Quotes from Societe Generale Cross Asset Research:
-USD/JPY confirmed H&S pattern and has achieved our advocated target for the pullback at 115.50, the lower limit of an upward channel since October lows.
-Monthly indicator is retracing from a resistance, a close below 115.50 will extend correction towards 113.50. For the day, the pair will drift towards 118.80.
The material has been provided by InstaForex Company – www.instaforex.com