The USD/JPY currency pair has revealed a rising wedge pattern.
From a theoretical perspective, it is likely that the exchange rate could continue to trade within the predetermined pattern within the following trading session. In this case the rate could reach the 105.65 mark.
In the meantime, note that the currency pair could gain support from the 55– and 100-hour SMAs in the 105.40 area. Thus, the pair could breach the given pattern north and target the monthly R1 at 105.85.
