Currently, USD/JPY is trading at 108.51. The pair started a new up trend after breaking resistance level at 107.86. The price was consolidating in the resistance and support wedges before starting new up trend. It is moving towards its first target which is at 109.06 and if it crosses the first target it may also hit the second target at 109.80.
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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.
