USD\JPY Head & Shoulders Reversal (135 Pips)

A Head & Shoulders pattern has formed at the USD\JPY. This is the most reliable and consistent reversal pattern - it leads to reversal at 95% of trades and is considered 'the king of chart patterns'. Price has already broken the neckline and we would wait for a pullback to join the trade. Target will be 135 pips from the location of the pullback.