MattViv
Short

USDJPY HEAD & SHOULDERS PATTERN FORMING

FX:USDJPY   U.S. Dollar/Japanese Yen
27 0 1
We have 3 lines of resistance that could form the peak of the shoulder:
1. Fib 0.764 - 123.52
2. Trendline 1: from 123.80 and up
3. Trendline 2 - max 124.40
I believe one of these points will provide a reversal point, then if the move down breaks the neckline a potential move back to Fib 0.50 could be on the cards.
I will wait for a neckline break before going short.
One thing to note, Trendline 1, 2 and the neckline form an apex around 124.20 which could be significant.
United States
United Kingdom
India
Deutschland
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out