Sasha Singh
All posts from Sasha Singh
Sasha Singh in Sasha Singh,

USDJPY : Rising Wedge Giving Bearish Signal

US Dollar strengthened a little against Japanese Yen however the gains paused when it was reported that U.S. GDP was revised up to 2.6% in the final three months of 2013 from a preliminary estimate of 2.4% which market was expecting for an upward revision to 2.7%. On the hourly chart the pair seems like trading within a rising wedge showing that the pair might reverse this uptrend and break down from the support trend line of the wedge. On the stochastic oscillator, the signal trend line just crossed the moving average trend line to move above it signaling the downfall of the pair.