USDJPY INVERTED H&S POTENTIAL?
(This is an idea) after playing around.
-The current market sentiment is in a downtrend.
-Price has already made a Left shoulder & a Head for this structure.
-4H chart; Price holds at green zone resistance, so a potential ADAM/ADAM DOUBLE TOP:
-Price is below the 200 EMA.
-15minute chart: Harmonic pattern formation:
-The current market sentiment is in a downtrend.
-Price has already made a Left shoulder & a Head for this structure.
-4H chart; Price holds at green zone resistance, so a potential ADAM/ADAM DOUBLE TOP:
-15minute chart: Harmonic pattern formation:
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See the wedge:
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See the triangle:
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Of course, the right shoulder can be smaller and usdjpy can break neckline to go higher. However, I believe its early due to the expanding wedge formation.
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Price has moved significantly higher, could be on the rise.