From a technical perspective, USDJPY us under the formation of a Inverted Head and Shoulders pattern.
However it needs to align with the fundamental perspectives as well.
If the BOJ does not increase rates, we may see the Inverted Head and Shoulders pattern push the price aggressively from its current position.
Neckline - Near 143.5 level
Head and Shoulder Pattern Target - Near 147 levels
However it needs to align with the fundamental perspectives as well.
If the BOJ does not increase rates, we may see the Inverted Head and Shoulders pattern push the price aggressively from its current position.
Neckline - Near 143.5 level
Head and Shoulder Pattern Target - Near 147 levels
Trade active
Clean trade. Breakout and Retest done. Now waiting for Target to be hitTrade active
This inverted Head & Shoulder is supported by a trendline too.Trade closed: target reached
Inverted Head and Shoulder Target Reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.