USDJPY: Inverted Head & Shoulders Pattern

The larger time frame, the most obvious trades, are the trades we should all take, as they will have the best chance of success. Yes, I am a contrarian most of the time, but there is just no point in going against the obvious. The Sentiment is also showing that retail traders on the ActivTrader platform favour going against the obvious, so if nothing else, I am looking to take their stops. Fundamentally, this is also a no brainer as the BoJ has no current intentions of normalising their policy, other than they have had a loose monetary policy for so long that this is the new normal. The US dollar is appreciating on the back of the Fed rate hike cycle, so that driver alone would push the USDJPY higher for longer.

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0:11 USD/JPY