Tue, Dec 01, 2020 @ 05:20 GMT
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USD/JPY Analysis: Revealed Rising Wedge Pattern

The USD/JPY currency pair has revealed a rising wedge pattern.

From a theoretical perspective, it is likely that the exchange rate could continue to trade within the predetermined pattern within the following trading session. In this case the rate could reach the 105.65 mark.

In the meantime, note that the currency pair could gain support from the 55– and 100-hour SMAs in the 105.40 area. Thus, the pair could breach the given pattern north and target the monthly R1 at 105.85.

Dukascopy Swiss FX Grouphttp://www.dukascopy.com/
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

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