orvilleawright
Short

USDJPY (4H right shoulder of head and shoulder pattern completed

FX:USDJPY   U.S. Dollar/Japanese Yen
USDJPY             (4H): After double bottoming (on Sept 27) at the 100.00 support zone , price moved sharply higher and is now back at previous resistance. Price has broken the rising wedge and has retested the bottom of the wedge as well as the 50 SMA . This is also the right shoulder of the head and shoulder pattern. My downside targets would be the 103.25 (Previous weekly open/swing low) then 102.8x (38.2% retrace/ 127.2 ext/ swing low). I would not buy at this level. I would wait until price break (above 104.64) through and retest the overhead resistance. Or look for buying opportunities if price reaches the previous weekly low at 102.8x.
United States
United Kingdom
India
Deutschland
España
France
Việt Nam
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Support Priority Support Report Issue Ideas Published Followers Following Private Messages Chat Sign Out