USDJPY - HEAD & SHOULDERS RETEST

My apologies for the cluttered chart, but there's a lot going on on this pair & I wanted to show you everything that I took into account when performing my analysis on this pair.

Last week we identified a potential Head and Shoulders pattern setting up on the USDJPY and we ended the week with a confirmation of that reversal pattern with the break and close below the neckline. I'm now looking for a retracement higher and the opportunity to jump on the next extension down.

In order to project the first level that I'll be keeping an eye on for a potential reversal I used my Fibonacci Tool to find confluence between retracement, extension & inversion levels. I also used a project equal measured move along with "LOOKING LEFT" of course.

The same was done to project an initial level that I could consider for profit taking.

Again my apologies if it's a little confusing but I just uploaded a 30 minute video walking through this entire setup if you need a better visual.

Good luck in the markets this week traders. I wish you all the best, and I appreciate all of the support that you've shown since I've found time to become more consistent here on Trading View.

Keep it up and I appreciate each and every LIKE & COMMENT!!

Akil Stokes
Go EVERTON!