This chart is part of my uber long term idea on USDJPY.
Straight to the case: Long in the current situation.
Target: 120
When: Middle of September (at earliest)
Why:
- Break out on the descending wedge.
- This is the last leg inside the wedge.
- Target suits well on my long term view on USDJPY (Hitting the upper line on the global descending wedge - The blue dotted line).
Straight to the case: Long in the current situation.
Target: 120
When: Middle of September (at earliest)
Why:
- Break out on the descending wedge.
- This is the last leg inside the wedge.
- Target suits well on my long term view on USDJPY (Hitting the upper line on the global descending wedge - The blue dotted line).
Note
My long term view:
Note
Make sure you move the stop loss! 111.40 should be a suitable one.Note
A close-up on the first coffee break: 
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.