Currently, USD/JPY is trading at 107.86. The pair started a sideways trend on 15 April and now consolidating in the resistance and support wedges . If the price breaks its support level at 106.98, then it may touch its next support level at 105.61. If the price breaks the resistance level at 108.08, then it may touch its next resistance level at 109.20.
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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.
