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Bull’s wedge has worked

29 August 2016, USD/JPY

Pair has justified hopes but strong Friday growth had happened thanks of performance of head FRS.

But we should pay attention to the technical moving of the pair. 100.00 level has strong support for buyers. Sellers spent a lot of time to break through this level and gave up.

So the possibility with forming of narrowing wedge has turned to reality.

Prompt pair growth could be result of forming wave iii of rising impulse.

It is good potential for the further pair growth, so on the correction decrease it is time to buy this instrument.

USD\JPY. The Bull’s wedge has worked.

Vasiliy Lukin
Analyst of «FreshForex» company
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