Falling wedge pattern, the price is appreciated, now the time for little correction of 100 PIPS before moving upwards. We take short position to grab those 100 PIPS
Comment:
You can observe in below 15M chart of USDJPY that whenever we see a rising wedge pattern, the price falls - At the moment, the price is ready to fall down to 113.70 and than 112.50 which is our target.
Trade active:
Moving down to 113.70 than 112.70
Trade active:
Landing soon to 113.60
Trade active:
113.60 hit, now 112.70 and than 112.50 on the table
Trade active:
Descending channel is intact till 112.70 in 5M chart.
Trade closed: target reached:
Multiple targets achieved in 19 days.
