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USDJPY: Next Stop 101?
In Saturday’s forex forecast video, I mentioned a multi-year breakdown for USDJPY. The chart pattern in question is one that I’ve been writing about since April. As you can see from the chart below, USDJPY has been trading within this terminal pattern for the last five years. However, the tricky part about trading this structure is that the daily and weekly time frames did not respect it. That left me with the monthly time frame, which brings us to July’s close. If you saw last weekend’s forecast video, you know that July was the first month to close beyond the wedge pattern. Because July closed below ... (full story)
