Chartist-Trading

USDJPY: Potential H&S formation

Short
FX:USDJPY   U.S. Dollar / Japanese Yen
USDJPY is forming a sideways formation and we believe that it is going to unfold as an H&S pattern. The right shoulder is in the making which means that price might go a bit higher at 114.10-20 before the drop. We will try small sell positions at current levels adding more at 114.10-15 or with a break of 113.70. Our target will be 113.30-40 area...
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