USDJPY Bearish retrace before 155

11 בנוב׳

UJ looks to be in a bullish channel with the next peak around at least $155. On the way up a retrace may be taking place as lower highs created a double top or head and shoulders pattern. Possible measured move down to a fifty percent retrace. My Take Profit target is a little earlier than the midway mark due to the overall bullish sentiment of the market. Stop loss is set to the last peak before a major lower high appeared.