DaggyValvik
Short

USDJPY wedge + head and shoulder update

FX:USDJPY   U.S. Dollar / Japanese Yen
The price broke out of the wegde, but got knocked in again by the 50 SMA and has now formed a head and shoulder pattern yet to be completed. Price got rejected at daily R1 Pivot and is moving down to complete the HS. Daily is aswell showning signs of a top, stochastics are overbought. 1H has RSI and Stoch overbought and the trendline on RSI has been broken. A short entry is good now or you can wait for the break of the wedge and or neckline of the HS.

Happy trading.
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