USDJPY Lower highs…Steady Lows…A Wedge it is
2012
The USDJPY could, should and may be forming a wedge with 81.70 as it's base. The pair has made lower highs since pushing above the 81.70 level. A downward sloping trend line from 82.80 has capped the price action over the last week or so. A break above the top of the wedge exposes resistance at 83.20. A push below the 81.70 level could lead to a test of the 81/80.60 resistance zone. The NFP report in early North American trading could be the catalyst to set the pair free.
Sup 81.70
Res 82.80
Keane Plan....Looks to be in a wedge. NFP could set free. If the pair remains in the wedge post NFP playing Wedge is the plan.
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