Inverse Head and Shoulders or Bearish Continuation? USD/JPY
Remaining cautiously neutral despite short-term bullish impulse.
Closely watching the 114.5 area for strong bounce to the upside.
Inverse head and shoulders will only be validated if the bulls can retain control of this level.
Would be the first instance of resistance becoming support since selloff started on the 4th.
Looking at 113 as the next key level if sellers retake control to finish off long-term bearish impulse.
Closely watching the 114.5 area for strong bounce to the upside.
Inverse head and shoulders will only be validated if the bulls can retain control of this level.
Would be the first instance of resistance becoming support since selloff started on the 4th.
Looking at 113 as the next key level if sellers retake control to finish off long-term bearish impulse.
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