USDJPY seems to form a local inverted head and shoulders means bullish sign. So if the blue area on my chart holds has strong chance to break out above the baseline. Closing below the area increases the odds of more decline. Main support and resistance levels are on the chart.
Below the area and baseline is bearish.
Although my main call was long however mentioned about the blue area and closing below the area took us to next support level nicely.
NFA
Disclaimer: The views expressed are solely those of the author and do not represent the official position of Followme. Followme does not take responsibility for the accuracy, completeness, or reliability of the information provided and is not liable for any actions taken based on the content, unless explicitly stated in writing.
Like this article? Show your appreciation by sending a tip to the author.
Leave Your Message Now