Currently, USD/JPY is trading at 106.20. The pair is consolidating in the ascending triangle resistance and support wedges . The pair may start a new up trend if it breaks the resistance level at 106.29, likely It is possible that the pair may consolidate further for some time. If the pair starts a new up trend after breaking the resistance level , then its first target price will be at 107.14 and second target price will be at 107.67.
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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.
