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USD/JPY: Topping Out

Published 06/14/2022, 08:49 AM
Updated 10/05/2023, 10:02 PM

Bearish

USD/JPY, at time of writing, is currently at 134.47 after putting in a head and shoulders reversal pattern. Should the pair complete the neckline breakout, look for a continuation to the ATR target the 133.31 area, and then the 0.382 Fibo at the 1131.82 area.

Watch the USDX for any change in direction; the index was also topping out. The ATR for the pair currently is 123 pips per day and its 180 day average is 117 pips per day. 

USD/JPY Chart

Latest comments

135.589 is my last recording, is there a reversal any time soon???
By the time the article got published already 100pips higher at 135.45 ,,, this is following zero technicals for the last 3 months , just the big put by the boj
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