sugardaddyFED
Short

USDJPY Head & Shoulder

FX:USDJPY   U.S. Dollar / Japanese Yen
Fundamentals:
- BOJ has not express additional stimulus despite pressure from other central banks
- A weaker USD due to economic data

Technically:
- Yen and Nikkei at 2015 high so pullback is healthy
- 4 hour is showing potential H&S formation
- RSI has rooms to fall
- From the breakout level, Fib of 38.2% is a healthy and viable target

If Head & Shoulder play out this is the target which coincide with the minor support and 38.2% retracement at 122.45 - 122.70 levels.

Entry@ 123.70
Stop@ 124.20 (-50)
Target@ 122.70 (100)
RR of 1:2

After the pullback-usdyen is still a bullish market-consider switch to long
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
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 My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out