head and shoulders in USDJPY...

melikatrader94 Updated   
FX:USDJPY   U.S. Dollar / Japanese Yen
hello guys...

today I was surfing throw forex pairs and see a great opportunity in monthly time frame at usdjpy pair...

as you can see on chart price formed a head and shoulder pattern and target of this pattern is on $165, although break out neckline very well so it is very possible to reach target...

there are two scenarios for upward movement:

1) starting to downward from here

2)retrace to neckline and after that start upward movement

it is up to you to choose best position, which one do you choose?

always do your own research.
If you have any questions, you can write it in comments below, and I will answer them.
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