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FxGrow Daily Technical Analysis – 04th Feb, 2016
By FxGrow Research & Analysis Team
USDJPY - Sharp declines after completed reverse H&S pattern
Such technical price behaviour like last USDJPY movement can't be seen very often. First it formed reverse head and shoulders pattern and BoJ decision was an excuse for upward movement. Target for that movement coincides almost perfectly with reverse H&S potential target (it can be measured by range between the top of the head and neckline). USDJPY after reaching the target begun declines immediately and support at 118.80 didn't stop the price even for a moment.
To read this Full in depth Analysis please visit FxGrowhttp://www.fxgrow.com/analysis-educ...cal-analysis-fxgrow-free-forex-analysis-tools.
Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.
By FxGrow Research & Analysis Team
USDJPY - Sharp declines after completed reverse H&S pattern
Such technical price behaviour like last USDJPY movement can't be seen very often. First it formed reverse head and shoulders pattern and BoJ decision was an excuse for upward movement. Target for that movement coincides almost perfectly with reverse H&S potential target (it can be measured by range between the top of the head and neckline). USDJPY after reaching the target begun declines immediately and support at 118.80 didn't stop the price even for a moment.
To read this Full in depth Analysis please visit FxGrowhttp://www.fxgrow.com/analysis-educ...cal-analysis-fxgrow-free-forex-analysis-tools.
Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.