A head and shoulders pattern rarely displays erratic price behaviour. On the other hand, erratic behaviour is most often displayed on the extreme right side of a large reversal pattern. One can argue that the move to 156 completed wave 4 out of 195, ...

Yes, this whole Brexit thing is tiring. Perhaps there should be a final realisation that the common market and EU thing was simply a ploy by Marxists to deny the existence of the nation state under an undemocratic and unrepresentative swill and ...

yeah

Consider the length of the move March/April with this one thus far. They're both around 870/880. Then note the 1.618 relationship (thus far) that each of the Mar/April and August moves have wrt the downtrend move 154 ish /140 ish. (875 x 1.618) not ...

Maybe by only a few pips, but still in it's descending channel. GU bang on long term circular resistance. But break up probably suggests reversal back towards 149.5 and above.

Agreed. It appears the central pivot for a possibly larger correction sits around 142.5/7 (obviously). Re the overall base, am still unsure, but suspect it may be marginally under 139.5. Assuming this central pivot area can break, I would expect a ...

Apologies for not replying earlier. Your post came in during my night time. Frankly, a break over about 147/147.5 suggests completion of the current down trend (IMHO) as such a break would cross a long descending TL, the fib fan 76.4 out of 195x. ...

I'm aware that 139.5 never printed. Nevertheless the symmetry of this entire structure wrt that level and the high at 149.2/3 is amazing. The bottom set up a reversal that was tested after break out. The extreme bottom of the reversal (extrapolated) ...

My posts June 7 and July 25 still hold. Refer June 7 for the chart. July 25 stated " Overall structure per my post June 7 still intact following what MAY have been a C wave to 149.3. Finally dropped out of the weekly ichimoku cloud. Now testing the ...

Welcome back man. I was starting to get worried.

Overall structure per my post June 7 still intact following what MAY have been a C wave to 149.3. Finally dropped out of the weekly ichimoku cloud. Now testing the daily cloud. Over about 147.5 negates medium term structure again. Still needs fall ...

I thought this forum was about USD/JPY. Or is it about usd/usd? It appears the world's third largest economy doesn't get too much of a mention in this place.

148.5/6 top daily and weekly ichimoku cloud. Over 149 negates a nine month long pattern for continuation down.

Up. And so be it

145.5. Getting squeezed by long term circular resistance. Break up requires a large push. Path of least resistance still a drop under 144.5/6

It's Friday. 144.6 break again or hold

For what it's worth...This is why I stated a week or so ago that I expected top circa 147.5/148. A fairly long term (daily) diamond structure with a centre about 150x. Predictable as per a bounce from the lower apex, predictable with respect to ...

At what point does it cease to be a correction in yr books? A standard diamond reversal would allow for as far up as 147.5/148 before 139.

Should it be in correction it should bounce strongly from here (143x) or about 139 in the extreme. In a reversal it may bounce out of 135/136 ish before down again through 132/131. At this time the daily sustains at totally oversold, but suspect ...

A marginal break wouldn't be a big deal, but lower time frames suggest a pattern may be setting up, either for continuation or reversal.