Currently, USD/JPY is trading at 107.20. The pair is trading in a down trend for some time by making lower low higher high pattern in the resistance and support wedges . There is a very small possibility for the pair to change the trend right now, it will move in the resistance and support wedges by making lower low higher high pattern.
Follow a proper risk management strategy to avoid unnecessary losses and to increase profitability, don’t risk more than 2% of your capital on each trade.
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Thank you,
Rishikesh Lilawat
Rishikesh Lilawat has over seven years of experience in trading Forex and commodities markets, out of which three years in two investment banks as a professional Forex and commodities trader. He holds an M.B.A degree in finance and business analytics from the University of Pune. Realizing the central role of a trader and because of his personal and particular interest in trading, He built skills in market research, technical analysis, fundamental analysis, risk management, and fund management, etc and focus his efforts on communicating and sharing views on market trends and patterns.
