RobTaylorForex

USDJPY Head and shoulders short

Short
FX:USDJPY   U.S. Dollar / Japanese Yen
3
Taking a short trade here, have entered at 118.90 and target is about 118.00, distance from top of head to neckline. Placing a tight stop just above 119,00 as I feel it invalidates trade if price moves above that. Also interesting, the right shoulder itself was a head and shoulders pattern that completed, with a drop equal distance from the head to neckline. Sorry for messy chart, wanted to get idea quick, was using this for some scalping as well as other analysis. I did not hit that first target just wanted to show the measurement.

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