USDJPY-Weekly Market Analysis-Nov21,Wk3

USDJPY Flag Pattern stands, but it took a turn and change to the flag pattern with retracement and not the high and tight flag pattern.

Base on the 4-hourly chart, it has broken and closed above the channel, but it does break and close below the channel too, however, there's nothing to be worried about.

If you are waiting for a more conservative approach, you can wait for the Inverted Head and Shoulders trading setup that completes at 113.46.

While this Head and Shoulders doesn't meet my trading setup, look left of 113.46, it happens to be a rather good support level for a trend trading setup.