USDJPY is trading in a rising wedge pattern prior to the USD CPI data, which measures the change in price of a representative basket of goods and services and is used to measure inflation, which has been a growing concern to the US economy. Technically the pair is in a rising wedge pattern (bearish) and has approached resistance. The RSI has also generated sell signals, and we anticipate downside into 110.150.
Trade closed: target reached
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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.