A Head & Shoulders pattern has formed at the USD\JPY. This is the most reliable and consistent reversal pattern - it leads to reversal at 95% of trades and is considered 'the king of chart patterns'. Price has already broken the neckline and we would wait for a pullback to join the trade. Target will be 135 pips from the location of the pullback.
Source:
http://www.chartsecret.com/content/usdjpy-head-shoulders-reversal-135-pips
Source:
http://www.chartsecret.com/content/usdjpy-head-shoulders-reversal-135-pips
