USD/JPY 1H Chart: Rising Wedge

Source: Dukascopy Bank SA
© Dukascopy Bank SA
Pair has been narrowing its trading range by 80 pips in 100 bar range and recently it has been moving towards the pattern's resistance. Technical indicators, although with significant share of neutral readings, give strong indications that pair will continue appreciating (bouncing from the pattern's support and maintaining bullish trend). It is worth mentioning that trading  volume has significantly decreased lately, indicating that traders (bulls or bears) are preparing for a charge. This  is one of the main characteristics of the Rising Wedge pattern.

© Dukascopy Bank SA
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