@IKing55 on USDJPY | PriceONN Community
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Did some weekend chart analysis on USDJPY... weekly close wasn't terrible, but I'm seeing a potential head and shoulders forming on the D1 chart. If that pattern confirms, we could be looking at a significant drop in the coming weeks. I'm also watching the 50 SMA – if it crosses below the 200 SMA, that would be another bearish signal. Of course, it's all just speculation until the market opens and we see how things play out. Keeping an eye on those pivots too, especially R1 and R2 as potential resistance.