Once again H&S
pattern from the past catches my attention. As in EURJPY
, I am not interested in the pattern itself but the former neckline is a totally different story. In this case it is especially interesting as some may say that the H&S
pattern failed, hence the neckline has no value. Very much possible - but looking @ the price action
and how the pair has built a nice support area
for itself around 50% retracement
area, I suspect that the former neckline + 61.8 retracement level may act as magnet for the price (the area in the box). Time will tell how it turns out.