USD/JPY: Wedge Setup Validated, Long Entry Next
As we expected, USDJPY broke through the bottom of a bearish Rising Wedge formation to find near-term support near the 90.00 figure. Continued losses target major downside targets at 87.92, 86.41 and 84.81.However, our fundamental bias favors long-term gains and we will treat these levels as potential turning points offering a long entry opportunity.
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