FX:USDJPY   U.S. Dollar/Japanese Yen
138 5 3
HEAD AND SHOULDERS ON MAJOR SUPPORT ZONE
alextrades PRO
3 months ago
so your predicting it will shoot up to 106 after mid august???
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LAfxtrader
3 months ago
I'm not predicting any date, I just drew the arrow if it hits the strong support that has been historically respected since 99,04,08, and present.
+1 Reply
LAfxtrader
3 months ago
Historical support zone on USD/JPY
+1 Reply
99nines
3 months ago
I'm confused usually H&S are used for when the neck breaks.. so in this case that would be a move down..

I think you'd want a inverse H&S to give you a up move here.
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LAfxtrader
3 months ago
My apologies, I forgot to include the dual scenario here. If we break the support we will look to cover profits at 98-95. If we fail to break the support the Head And Shoulders is invalid and I will be going long to 106
+1 Reply
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