FX:AUDJPY   Australian Dollar / Japanese Yen
1
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.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.