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U.S. Dollar / Japanese Yen
Short

completed head and shoulders pattern

By VasilyTrader
Updated
snapshot

hey traders,

on pound yen we have a very overbought market.
I was looking for reasons for entry as the market reached the resistance line of a rising channel.
Now, as we see a completion of a head and shoulders pattern, we can sell the violation of a neckline,
projecting our first target around 109.15 level.

your stop is above head.
as the market reached the first target you trail your stop to entry level.

good luck!
Note
still in side move
Note
going down
Note
hit the initial target
Head and ShouldersSupply and DemandSupport and Resistance
VasilyTrader
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