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If we look at the 4-hour chart of the main currency pair USD/JPY, there are several interesting things, first the appearance of the Failing Wedge pattern, second the divergence between the price movement of USD/JPY and the Awesome Oscillator indicator so that based on these two things in the near future USD/JPY has the potential to appreciate up to the level of 155.72 and if the momentum of strengthening and volatility support then 157.23 will be the next target to be tested, but if on the way to these targets there is suddenly a significant weakening correction, especially if it breaks through and closes below the level of 153.80, then the strengthening scenario that has been described previously will be invalid.
(Disclaimer)
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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