Inverse Head & Shoulders Pattern Signals Bullish Breakout Ahead!
Updated
Current Price: 141.683
Currency Pair: USDJPY
Time Frame : 1H
This USD/JPY 1-hour chart shows a clear Inverse Head and Shoulders pattern, indicating a potential bullish reversal. The neckline at 141.014 has been broken, and price is now in a retest zone. A successful bounce from this area could drive the price toward the next target at 143.724, aligning with key resistance.
The RSI at 58.75 suggests room for further upward movement without being overbought. However, if the retest fails, it could be due to a weak bullish momentum or increased selling pressure, pushing the price below the neckline and invalidating the reversal. In this case, the next significant support level is at 139.675. Despite this risk, the bullish scenario remains more likely.
Currency Pair: USDJPY
Time Frame : 1H
This USD/JPY 1-hour chart shows a clear Inverse Head and Shoulders pattern, indicating a potential bullish reversal. The neckline at 141.014 has been broken, and price is now in a retest zone. A successful bounce from this area could drive the price toward the next target at 143.724, aligning with key resistance.
The RSI at 58.75 suggests room for further upward movement without being overbought. However, if the retest fails, it could be due to a weak bullish momentum or increased selling pressure, pushing the price below the neckline and invalidating the reversal. In this case, the next significant support level is at 139.675. Despite this risk, the bullish scenario remains more likely.
Trade active
The price broke through the neckline due to a 5.0% rate cut and bounced back to 142.707.Trade closed: target reached
The price perfectly hit the predicted target.
Target Reached: 143.724 ✅
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