FXWW News/JPY crosses/Trade Ideas

EUR/JPY: Nearing right shoulder of H&S formation

There is quite a nice H&S formation here with a right shoulder at 131.15. We can expect to see selling at this level with stops above. I’m already short with a stop above 131.40 and will sell more if the level is tested and confirmed.

  1. Hi Sean, what is the maximum possible value in USDJPY in the present upper trend in your opinion? (I have seen analysts predicting it in between 109 and 120, but they change it almost every week). Also, how will the upper house election affect USDJPY?

  2. At the moment my best guess is that we’ve already seen the top Tom at 10350+ and that we are more likely to trade sub 90 than 110+. Market conditions are constantly changing and its v v difficult to make long term predictions

  3. I expect a range 101 to 98 till mid of Aug for dol yen?Then,110 will be next meat before Xmas。 No good fundy news from Japan。

    I saw somebody got big bearish harmonic pattern on eur〜jpy。 Two hand to sell。 Is complex pattern or common pattern reliable for top formation?

    One sure if Abe goes under,Egyt style wind, yen Rise。

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