Has The Crown Been Placed On The USDJPY ?
Looking very likely that a Crown topping pattern is forming on the USDJPY several failed attempts to break and close above 145. Although the Dollar has been dropping the last week after nearly hitting 115 the USDJPY has been moving in a sideways range between 144 and 145 indicating period of distribution which is likely an unwinding of long positions after the huge move up.
As from a previous post I am a short positionif we get the close below the 144 level will likely drop down to the 142 region get a small bounce there then break down takng out the low from 2 weeks ago, Read my previous posts for my targets.
As from a previous post I am a short positionif we get the close below the 144 level will likely drop down to the 142 region get a small bounce there then break down takng out the low from 2 weeks ago, Read my previous posts for my targets.
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