Possible Big Drop for USDJPY

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Dolar A.S. / Yen Jepun (OANDA:USDJPY)

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OANDA:USDJPY Dolar A.S. / Yen Jepun

trendanalysis chartpattern indicator usdjpy usdjpysignal usdjpyshort usdjpyanalysis accurate

Possible short for USDJPY. Most people would leave this par alone and have no idea what to predict due to the fact that the chart has been moving 'Sideways' for a while now and most people usually stay away from sideways moving charts. I can see a parallel wedge forming and price is getting close to the edge which means its going to break out one way or another. Going by fundamental analysis I would predict a drop in USD but I've learnt not to base my judgement purely on one type of analysis. My technical analysis is also saying short USDJPY. I have chosen to use the 50 EMA for this one as I am looking for a short term trade as we're getting close to the end of the wedge and the price is reading below the EMA which is indicating a short bias again.

USDJPY

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