Currently, USD/JPY is trading at 106.20. The pair is consolidating in the ascending triangle resistance and support wedges. The pair may start a new up trend if it breaks the resistance level at 106.29, likely It is possible that the pair may consolidate further for some time. If the pair starts a new up trend after breaking the resistance level, then its first target price will be at 107.14 and second target price will be at 107.67.
Follow a proper risk management strategy to avoid unnecessary losses and to increase profitability, don't risk more than 2% of your capital on each trade.
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Rishikesh Lilawat
Follow a proper risk management strategy to avoid unnecessary losses and to increase profitability, don't risk more than 2% of your capital on each trade.
Do follow us for future Forex trend analysis and Ideas.
Thank you,
Rishikesh Lilawat