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USD/JPY 1H Chart: Rising Wedge

Note: This section contains information in English only.
Source: Dukascopy Bank SA
USD/JPY set the bar at 118.30 in December 2016, but slipped later on and lost around 4% until this moment. The pair was attempting a soar, but diminishing lows led to a rise of bullish potential as a rising wedge emerged. Currently testing the bottom boundary of the pattern, the rate will most likely break 114.19, retrace from the trend-line and then set the target at 113.85 where the 20-hour SMA lies. In case another up-wave is executed, 114.42 will cut the bullish motion to ultimately send the rate down outside of the pattern.
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