USDJPY: Ooo...my Yen where o when thou shalt break???
Weekly chart of the $JPY says it all with global markets implying an impending recession, will the $JPY be the tradition safe haven trade or will the BoJ pull all stops to shore up the economy? Wedges traditionally have a 50:50 breakout probability on each direction... though it can also be a flag where it will be a continuation pattern... Either way, it is a post-ante decision which means it is best to sit in the sidelines till we get a clearer picture.
