Yen Megaphone
USDJPY looks to form a megaphone since April 2017 on the daily charts. If this pattern were to continue, then Yen strength would be apparent as price retraces the fib levels to the .618 at 1.06.
A suggested short , with stop outside the megaphone high and targeting the confluence of the .618 retracement & lower supporting trendline.
Risk reward is conservative 2. :)
A suggested short , with stop outside the megaphone high and targeting the confluence of the .618 retracement & lower supporting trendline.
Risk reward is conservative 2. :)
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