USD/JPY made Rising Wedge and Head & Shoulder patterns
Here is our sell trade setup on D1/daily time-frame based on the Rising Wedge pattern:
Here is a sort of Head & Shoulder pattern on H4 time-frame:
Risk: SL above right shoulder.
Fundamental: In this week, we're not expecting any conclusive positive news about US-China trade deal phase1, so bullish optimism will wane a bit. We are not expecting US retail sales to surprise either. Note that USD/JPY fell despite recent US data (CPI, core CPI, PPI and core PPI) were neutral/slightly positive (not surprisingly positive though). It shows market's reluctance to buy greenback this week.