USDJPY is at risk of breaking a seven-year level.
I’ve mentioned this multi-year wedge pattern few times over the last few weekly analysis.
All breakouts on the daily and weekly time frames have failed.
It’s going to take a monthly close below support or above resistance to confirm the breakout.
Last week tested the 106.00 support area, which puts USDJPY at risk as we approach the July close this week.
We’ll see how the next five trading days play out, but a July close below 106.00 would expose 101.00.
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I’ve mentioned this multi-year wedge pattern few times over the last few weekly analysis.
All breakouts on the daily and weekly time frames have failed.
It’s going to take a monthly close below support or above resistance to confirm the breakout.
Last week tested the 106.00 support area, which puts USDJPY at risk as we approach the July close this week.
We’ll see how the next five trading days play out, but a July close below 106.00 would expose 101.00.
If you like our ideas please like and follow us.
