USD/JPY: yen is taking the lead
Read the article on FBS website
Recommendation:
SELL 109.8
SL 110.35
TP1 108.8 TP2 108 TP3 107.8
On the daily chart of USD/JPY, bulls made an attempt to bring the pair to May high in order to trigger AB=CD with a target at 200%. It ended with a pin bar. A break of its low will allow bears to counterattack counting on the formation of the “Bat” pattern.
On H1 of USD/JPY, a break of the lower border of the uptrend channel will increase the risks of triggering the “Shark” and the “Head and Shoulders” pattern. It signals a pullback to the short-term uptrend.
