Inverse head and shoulders breakout
USDJPY has broken above the neckline of an inverse head and shoulders pattern and looks set to continue higher.
Initial resistance is 111.60, with a break above there targeting 112.20 and 112.80. Immediate support at 111.20, with further support at 110.90 - a break below the latter would invalidate our bullish bias and turn us neutral on this pair.
Initial resistance is 111.60, with a break above there targeting 112.20 and 112.80. Immediate support at 111.20, with further support at 110.90 - a break below the latter would invalidate our bullish bias and turn us neutral on this pair.
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