FXWW News/Technical Analysis/Trade Ideas/USD/JPY

USD/JPY breaks out of wedge formation

The well-watched wedge formation on the daily chart has now broken (see chart) and the obvious technical play is to buy dips back towards the break-up point with stops below.

There will be heavy optionality at 100.00 which will prove magnetic I’m sure but I will use any intraday spikes to sell into for a quick 50/70 pip swing trade.

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