Last week I posted the USDJPY chart and commented on an inverted head and shoulder forming in a rising wedge. The inverted head and shoulder formation turned out to be a triple bottom. Inside the rising wedge, you could see a falling wedge with price breakout leading to the formation of a triple bottom. The triple bottom formation in price structure can also be observed on the RSI. A break above the neckline of the chart pattern opens up the 112 region. Perhaps the 50 daily SMA could be used as support to buy if you are not already in.
Disclaimer: This is not a financial advise. This is my way of sharing my trade ideas with the community and any decisions you make from this is entirely yours and has nothing to do with me.
Disclaimer: This is not a financial advise. This is my way of sharing my trade ideas with the community and any decisions you make from this is entirely yours and has nothing to do with me.