As we can see on this USD/JPY-0.35% weekly chart, Last week we broke out of consolidation which yielded in a strong move to the downside. This week we should see a continuation of the downwards momentum, We are setting up for that right now. Watch for a break of last week's Thursdays low for conformation if so this pain will probably see 1105.44
From the Head and Shoulder a measured move will take us right into that 1105.44 level which is also a confluence with major structure support .
I have mapped out 3 levels on this weekly chart to start watching for immediate reversals. I would not go aggressive on the long side We should see another week with strong down side.
From the Head and Shoulder a measured move will take us right into that 1105.44 level which is also a confluence with major structure support .
I have mapped out 3 levels on this weekly chart to start watching for immediate reversals. I would not go aggressive on the long side We should see another week with strong down side.