The USD/JPY currency pair has revealed a rising wedge pattern.
From a theoretical point of view, it is likely that the exchange rate could trade upwards within the given pattern in the short term. In this case the rate could face the resistance formed by the Fibo 23.60% and the monthly S3 circa 105.00.
On the other hand, the demand for the Japanese Yen as for the safe-haven currency could increase due to the US Presidential election. Thus, the currency pair could trade downwards in the short term.
