Traders have been anticipating a move down to correct the sharp move up
for the yen-pairs in the past few weeks.
At the moment, it looks like the USDJPY is forming a H&S - favoring the expected
down-move before higher again. But it could also be a triangel which could
break higher for a final leg up before lower.
Don't commit without conformation. If it breaks the neckline look to go short.
But if it takes out the highs, we could go up to around 96 before lower.
for the yen-pairs in the past few weeks.
At the moment, it looks like the USDJPY is forming a H&S - favoring the expected
down-move before higher again. But it could also be a triangel which could
break higher for a final leg up before lower.
Don't commit without conformation. If it breaks the neckline look to go short.
But if it takes out the highs, we could go up to around 96 before lower.