FX:USDJPY   U.S. Dollar / Japanese Yen
129 2 1
In my previous analyses, I was looking for a break lower in this pair (see related chart) and decided to disregard the H&S pattern to the upside. Clearly it was not the right decision as it seems that the H&S pattern working very nicely - at least for now.
If the pattern should play out in full, then it means new highs very close to 123.00
HS tough to see here. Many headwinds ahead for this pair, heading down after meeting strong resistance IMO.
Very much possible. I'll wait until the 2nd week of January to get more data to analyse. Generally I would like to see it lower but currently the price action is not confirming a bearish scenario.
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