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WrightWayInvestments

USDJPY - Possible Head and Shoulder

Long
U.S. Dollar / Japanese Yen (FX:USDJPY)  
WrightWayInvestments  
FX:USDJPY   U.S. Dollar / Japanese Yen
Trend Analysis Wave Analysis Chart Patterns headandshouldersformation wavetheory elliotwaveanalysis Bullish Patterns USDJPY
6
2
trendanalysis waveanalysis chartpattern headandshouldersformation wavetheory elliotwaveanalysis bullish usdjpy
As we can see USDJPY broke out of a bearish channel and showed support at a key fib area @61.8 showing that price may be ready to go up.

To further this bullish sentiment a possible head and shoulders seems to be forming within the pair was well.

This idea can be seen as being invalid around the 129.566 area.

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