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USDJPY could bounce off 120.00 zone

Discussion in 'Technical Analysis' started by FXStreet_Team, Oct 12, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    As you could read in my previous USDJPY ANALYSIS and my FXstreet INTERVIEW USDJPY bearish pennant has given us great shorting setups. As i have already stated, I expect a range play in the currency pair and this is the time where we might see a bounce. USDJPY is showing inverted head and shoulders pattern variant on H1 chart and we can see that 120.00-10 is rejecting the price. POC comes exactly in the 120.00-10 zone ( L3, trend line ,DPP ) and sustained momentum above the zone will target

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