USD/JPY -4/3/2023-
• Pair broke above descending channel
• Entered correction mode and stalled at 38.2%
• Rising wedge in play, a bearish pattern reinforcing the downside scenario
• Breaking below rising wedge support takes us back to yearly lows around 127 followed by the projected target at 125
• Entered correction mode and stalled at 38.2%
• Rising wedge in play, a bearish pattern reinforcing the downside scenario
• Breaking below rising wedge support takes us back to yearly lows around 127 followed by the projected target at 125
Ramzi Abou Abdallah, CFTe, CMT
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