Dear all,
here are my expectations on the follow through for USDJPY on Monday.
After the breakout and the bearish engulfing candle on friday, I am expecting some follow through and closure to the technical Head & Shoulders pattern.
As such, the 93.50 support level is a strong historical support where USDJPY might either bounce off or touch and go in the later sessions of monday. This results in a reasonably good profit taking area to look at for this pair.
Regards,
Siwei.