USD/JPY – Rising wedge should start it down

Note: ADP and Jolts today

Bearish: Forex Strategies: Currently we are at 161.90 in a rising wedge (bearish). IF we can break the wedge, we are looking for a continuation to the ATR Target @ 161.08. There is a 0.618 Fibo further @ 161.04. We should see a reaction there. Watch the USDX for direction and the Fundie could negate all of this. The average daily true range (ATR) for the pair is 89 pips per day and it’s 90 day average is 109 pips per day. My Forex Analysis says USDX is currently down

Posted to Introduction to Forex Targe… on Jul 03, 2024 — 8:07 AM

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