I may have identified head and shoulders pattern in this pair, however the Yen has been consistent in gaining strength and is being considered as a 'safe haven' for traders. I do believe that the trend would be very hard to breakthrough the 132. gap even-though the chart shows the breakage of the 131. barrier a few times. If the trend breaks 132.250 only then would I be considering holding the long. However the trend may reverse if bounced off first target to second target point. If also the trend reverses and bounces off target 1 and breakthrough ascending wedge the trend may continue to target 2.
Current point: 131.020
Opening point: 131.020
Target point: 132.250
Exit point: n/a
Current point: 131.020
Opening point: 131.020
Target point: 132.250
Exit point: n/a
Trade closed: target reached
Trade closed: target reached:
target 2 reached 134. barrier to hit from 132.25
