USDJPY has completed a head and shoulders continuation pattern with an objective of 128.47. Whether the market makes good on this is unknown. The pattern can fail but reward/risk is asymmetric for bulls against 123. A drop below there would trigger a failed pattern…and a signal in the other direction (short).
jsaettele
Director of Technical Research at Krilogy, author Sentiment in the Forex Market

Twitter: twitter.com/jamiesaettele
Website: krilogy.com/

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