FX:USDJPY   U.S. Dollar / Japanese Yen
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8
After a failed fist attempt, here I am seeing TONS of bullish signs....

1. 61.8% Fibonacci level in play
2. Last week Friday = doji (indecision - bears losing steam?)
3. Support pinned
4. Lower bollinger pinned

This is starting to look like an inverse head and shoulder pattern with each shoulder and the head having 2 bumps. I am still aware of the capped trend line BUT analyzing on the weekly time frame shows good support so i look to buy, especially where there are opportunities with very low risk....I'll be using price action on H4 to find a good place to enter the market IF it happens.


What is my major concern with this pair and why not just jump in? See the bearish engulfing bar on the weekly time frame

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