USDJPY - Breaks the Head and Shoulders
USDJPY - Intraday - We look to Sell at 108.60 (stop at 108.90)
Closed the day little net changed. Selling posted in Asia. Broken out of the Head and Shoulders formation to the downside. The formation has a measured move target of 107.33. Preferred trade is to sell into rallies.
Our profit targets will be 107.35 and 107.00
Resistance: 108.60 / 108.93 / 109.28
Support: 107.88 / 107.35 / 107.00
Closed the day little net changed. Selling posted in Asia. Broken out of the Head and Shoulders formation to the downside. The formation has a measured move target of 107.33. Preferred trade is to sell into rallies.
Our profit targets will be 107.35 and 107.00
Resistance: 108.60 / 108.93 / 109.28
Support: 107.88 / 107.35 / 107.00
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