USDJPY FAKEOUT

- Allowing the market to open and settle before taking any moves. As you can see right on market open we formed a 1hour bullish engulfing. All this was seeming to do was creating a wick to the upside and a false breakout to push back down
- We can now regard that area i have highlighted in green as a false breakout
- We're back trading across our key level of 105.5 and still holding a support
- We are possibly going to see a head & shoulders pattern occur