Bandarsq
Long

Potential Inverted Head & Shoulders Pattern

FX:USDJPY   U.S. Dollar/Japanese Yen
105.5 is a solid support for USDJPY             . As a result, a potential IH&S is under development. Neckline breakout will confirm the target 116.
Comment: I would wait for the breakout of level 106.25
snapshot
Comment: This might do it. Stay alert.
snapshot
Trade closed: stop reached
It also broke a kind of wedge it was forming, not a very strong signal but it can also be seen as a double bottom, plus it´s also in a strong support zone.

snapshot
Reply
Bandarsq PRO IAmAgainst
Yes a falling wedge.
Reply
This is great find. However we hold contrarian views on gold I believe we are quite aligned on this one. 105.5 remains wall of steel although 0.618 fib retracement failed to pierce the resistance for bounce towards the top channel i.e, ~110.50. This might do double bottom at nearest support and bounce to channel highs. Not to pollute the comment space but nevertheless I pin my opinion chart here. Enjoy the Sunday. Wish you a million dollar.
snapshot
Reply
Thanks for the valuable comment. Gold is usually correlated with USDJPY negatively and EURUSD positively. However, last week I have noticed Gold maintained an uptrend while EU was correcting and UJ was ranging. I will updated this chart and keep a close eye.
Reply
United States
United Kingdom
India
Deutschland
España
France
Việt Nam
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Support Priority Support Report Issue Ideas Published Followers Following Private Messages Chat Sign Out