Looking at the graph, we can clearly identify the formation of the shoulders and the head pattern. The pronounced thickening marked in yellow indicates a significant support and resistance (S/R) level. Once this level is broken, it confirms a downward trend with substantial profit potential. đđ°
Based on this analysis, the target for the downward movement lies within the liquidity zone at the 146.30 level. Keep a close eye on the price action as it approaches this area, as it could present a lucrative opportunity for traders. đŻđŒ
Furthermore, it's worth noting that the JPY has been weak for an extended period. This can add to the likelihood of a correction in the near future. Let's face it, things have been a bit monotonous with the persistent weakness. So, buckle up and get ready for some potential excitement ahead! đąđ
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Remember, this contribution serves as an informative analysis and should not be construed as financial advice. Stay informed, stay connected, and happy investing! đđ
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