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After bottoming out at 120.41 in the first half of July, the US Dollar has been regaining bullish momentum in its pair with the Japanese Yen. However, it seems that USD/JPY's upward trend is also accompanied by a slightly decreasing trading range. Thus, we are dealing with the rising wedge pattern, even though the break-out point is still a long way off from the current moment in time. Bullish sentiment is supported by daily technical indicators, despite 4H ones giving signals to sell the Greenback. Therefore, we should expect the impetus to be provided by the lower trend-line/last week's low around 123.80. Meanwhile, majority (73%) of SWFX open positions are long.
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