USD/JPY - Scary looking large inverse head and shoulder
USD/JPY pair has been in a downtrend since mid 1970s. Keep this in mind, the potential inverse head and shoulder formation seen on the monthly chart suggests the pair may have bottomed out.
The neckline stands around 125.00 levels. A break above the same would confirm long-term trend reversal.
Also note, the pair has retraced 50% of the drop from 2015 high - 2016 low
The neckline stands around 125.00 levels. A break above the same would confirm long-term trend reversal.
Also note, the pair has retraced 50% of the drop from 2015 high - 2016 low
