Daily Forex Update: USD/JPY

The USD/JPY recently broke above the downtrend line resistance of a Falling Wedge pattern on the 240-minute time frame. This reversal higher has triggered an Autochartist Reversal of the Trend (ART) entry long, because prices have rallied through 86.05 (E). This momentum is further propelled by the break through the "big figure" level at 86.00, which-like all whole, round numbers-typically sees a larger amount of orders.