USDJPY threatening with a breakdown from the wedge.
USDJPY threatening with a breakdown from the wedge.
The USD/JPY is attempting to break below the ascending wedge formation today, a pattern that has been in play since late summer. This wedge has provided structural support for the pair’s upward movement, but a decisive break to the downside would signal a notable shift in market sentiment, turning the outlook bearish. In the event of a confirmed breakdown, the December low at 148.64 emerges as a key downside target. Conversely, the 155.00 level is likely to act as a strong resistance from this point forward, capping any bullish attempts. Traders should closely monitor price action around the wedge’s lower boundary for confirmation of a potential trend reversal.
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