USDJPY rising wedge resistance signals short

The USD strength of late has pushed this pair up against the upper limit of a daily triangle (I incorrectly labelled it as a rising wedge in the chart...). I'm looking at the hourly trendline for a break to signal a bearish move. Obviously we are moving into some turbulent times with the US elections so, trade safe and watch those stops. TP is at the bottom of the channel.

Alternatively, if price breaks (and holds) above the triangle, I'll look for some longs. This is possible, given the elections...

This is not trading advice and merely my opinion. Trade your own plan.

Good luck!

Bình luận:

Trendline broken signalling the bearish move. Position open with a TP at the bottom of the triangle. Happy trading!