Hi All,
I just wanted to know what the general feeling about USD/JPY chart pattern today.
A few days ago I spotted a falling wedge but ignored it. Am I seeing another one forming or am I alone on this?
Apologies for the five year old drawing style, I had to do this on my iPhone during work (tut tut, i know, not good idea).
Sorry, I meant I spotted a rising wedge this time.
Anyone looking to short/sell this (short term)?
I have been shorting it a few times and plan to add to it. The rising wedge you identified is correct, just know that it does not mean it will correct just because there is a bearish chart pattern. I think we are due for a correction at the beginning of next year.
Thanks. Placed a short order at 105.000, lets see what happens over the next few weeks.