The dollar took a sharp turn south against the yen on Thursday, but if you’d been watching a popular technical chart, none of this would have come as much of a surprise. What’s what has been forming for the last two years on that currency cross USDJPY, -1.52% is called the ‘head and shoulders’ pattern, typically viewed as a bearish sign. But in this case the chart pattern is taken on monstrous proportions. Technical wizards have seen this particular pattern coming for a while. Here’s how it is formed: the asset first rises to a peak and then declines, forming the left shoulder, then the price rises above the former ... (full story)