Head and shoulders possibly forming on the USD/JPY 4HR see image attached for more info.
Sell U/J at: 80.40
SL: 80.75
TP: 78.85
Price jumped to a new high. Next best area to short this pair may be around 82.00
Yeah, looks like Shinzo Abe had to come by and ruin a perfectly good H&S set up. Not sure where to short now exactly but the huge JPY news coming out tonight will likely cause some big moves.
Why has UJ lost so much volatility? I always wondered