Technician

Watch this Pattern: CADJPY Daily H&S

FX:CADJPY   Canadian Dollar / Japanese Yen
1411 13 16
A potential head and shoulders with a neckline around 94.20, watch this if it breaks we will probably retest the lows.

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I'm in long position after perfect daily pin bar with good resistance level.
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sounds rational. as i said earlier it looks bullish.. Good luck
-1 Reply
No confirmed breakout yet, price formed a long legged doji, possibly rebounding higher
snapshot
-1 Reply
HiTech PRO Technician
very strong resistance at 95. that is holding so far, no signs of an uptrend yet
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snapshot
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holding
snapshot
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Neckline almost broken, waiting for an update!
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Just had my confirmation on the short, though would be nice to share :)
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Added to your analysis, the past seven days trading range is inside the 18MAR trade range. Pretty interesting consolidation, and accumulation of momentum if it closes below the level you defined.
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Hey technician, so if we break and close below the neckline, then a valid entry would be after a retracement back to the neckline?
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