This pattern shows up very nicely on the 4 hour chart, and can also be seen on the daily. So far the pattern has been forming over 52 days. If we take our neckline from $6109 we have a target of $3700, or if taken from $5867 target of $3483(which is also a horizontal support). We get this target from taking the price range from neckline to top of the head. A...
Here i see an inverted H&S pattern with a impulsive 5 wave Elliott wave completing the head, and an ABC correction starting the right shoulder. I Believe this ABC will once completed, cause a wave 1 completing the right shoulder, wave 2 will be short lived with completion of the H&S pattern which will then be the wave 3 of the next 5 wave impulsive Elliott Pattern.
Along with upcoming events the head and shoulders shows a high potential for a secure long sell position against the Yen.
I would sell upon the confirmation of the right shoulder. I will post a clear signal once the shoulder fully forms and continue on the reverse of the trend.