USD/JPY Head And Shoulders Still Forming, Now With A Bonus Bear Setup
The USD/JPY continues to put in a bigger head and shoulder pattern. Head and shoulder patterns are bearish. The trigger is when the neck-line breaks. As of now, the neck-line is at 140. Should price break below this level, a calculated target to 118 is where investors should expect the USD/JPY to go.
In addition, over the last month, the USD/JPY is making a bear flag. This adds extra probability to the eventual breakdown of the head and shoulder pattern.
Look for the break of 118. That is the trigger.
This article is intended for informational and educational purposes only and does not constitute financial advice. All trading involves risk. Past performance is not indicative of future results. Trading involves substantial risk. All content is for educational purposes only and should not be considered financial advice or recommendations to buy or sell any asset. Read full terms of service.
Trading involves substantial risk. All content is for educational purposes only and should not be considered financial advice or recommendations to buy or sell any asset. Read full terms of service.
