USDJPY - Wickoff analysis

٢١ مارس ٢٠١٨

I believe we are in a Wickoff accumulation phase on the pair. I am not sure however if we are in a type 1 or 2. Type 1 would suggest another run down to break the previous 2 lows to get the stops out before making a move to the upside. Type 2 would simply make a higher low and form a head and shoulder pattern and break up. We shall see!