samirtoro
Short

Classic head and shoulders pattern

FX:CADJPY   Canadian Dollar / Japanese Yen
From the analysis i have done, it will be a plain Jane. You do not only see a break through the strong trend-line but also a head and shoulders pattern.
I have taken a deeper look into the 4-hour chart and believe it has already retested the neckline and will be entering a the trade.
(Take a look at the 4 hour chart, it has already tested its previous res and will now proceed with the bearish momentum.

Measuring from the top of the head down to the neckline, you can decide which of the three dark green lines to choose your take prof from.


Don't let greed consume you.
Make sure to trail stop and change it often reasonably.
Watch out for any trend reversals, fib retracements etc.
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