I have been looking at this head and shoulders pattern that developed in 2015. We now have a weekly candle below the kumo for the first time since late 2012. I believe that this is a major top reversal.
USD/JPY weekly has also got a candle below the kumo for the first time since late 2012. Also a major top reversal signal.
The long decline in the yen caused by BOJ intervention that started in late 2012 might be over.
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