The right shoulder is still building up but I believe after it forms a top it will come down to 105.500
I expect this drop below the neck line within an hour and possibly hit the target within 8 hours for ~60pips
Looking beyond that, I think USDJPY could fall further this week, but that is purely speculative at this moment.
I'm actually already short on this pair now - putting my money behind my picks, but not recommending others to do so until it breaks the neck (Bold Red Line).
I expect this drop below the neck line within an hour and possibly hit the target within 8 hours for ~60pips
Looking beyond that, I think USDJPY could fall further this week, but that is purely speculative at this moment.
I'm actually already short on this pair now - putting my money behind my picks, but not recommending others to do so until it breaks the neck (Bold Red Line).