USD/JPY – Rising Wedge Meets Major ResistanceUS Dollar/Japanese YenFX:USDJPYWrightWayInvestmentsChart Overview: USD/JPY is printing a textbook rising wedge formation, typically a bearish pattern—especially when occurring at the top of a major move. What makes this setup compelling: Price is testing the upper wedge resistance near the 148.50–149.00 region, a historically reactive zone. There’s clear confluence with the 200 SMA, horizontal resistance, and wedge structure—all signaling potential exhaustion. 🔍 Key Technicals: Resistance Zone: 148.00–149.00 (Highlighted Supply Zone) Rejection Candle Pattern: Recent upper wick shows rejection and buyer fatigue Bearish Divergence on RSI (14): Price made higher highs, RSI printed lower highs — a classic warning signal 🧠 Educational Note: Rising Wedge Patterns A rising wedge is a bearish reversal pattern, especially potent when it forms after an extended rally. The structure narrows as buyers lose steam, leading to a likely breakdown once support is breached. Pro Tip: Always confirm a wedge breakdown with a close below support + volume spike or bearish engulfing. 🔄 Invalidation: This idea becomes invalid above 150.467, where the wedge breaks upward and price potentially enters a new bullish phase. Marked clearly as “Idea Invalid” on the chart. 🧠 Final Thoughts: This chart combines price action, pattern structure, RSI divergence, and SMA confluence — a high-probability scenario favored by elite traders. If you trade based on confirmation rather than prediction, this could be a setup to watch closely. 🗣 Drop your thoughts or questions below! 💬 Let’s learn and grow together.