On the USD/JPY daily chart, within the inverted “Head and shoulders” and “Bat” patterns, a pin bar was formed. It is a signal of the bulls’ weakness.
If the “bears” manage to keep quotes below the 114.65 level, the prices may fall towards the upper boundary of the downward trading channel (112.7).
On the USD/JPY hourly chart, the breakout of the support at 114.65 will push the quotes lower towards 114 and 113.8. The nearest resistance is located near the 115.15 mark.
Recommendations:
SELL 114,65 SL 115,2 TP1 113,8 TP2 112,7,
BUY 115,15 SL 114,6 TP 116,8.
Origin: FX BAZOOKA
