UJ Destined for 107.85 after H&S Pattern (SELL) weekly, daily,1h

https://www.tradingview.com/x/XznbxeQa/https://www.tradingview.com/x/tA4Xmk5D/https://www.tradingview.com/x/9vutMVhu/


UJ Thesis

- Weekly: Although last week candle closed as a bullish engulfing UJ is still very bearish with multiple wick rejections off 109.00 weekly zone signalling sell pressure creeping into the market.

- Daily: With price taking out previous lows UJ market structure is now bearish. I do see UJ rolling over to the downside with next possible target being 107.85 with double top formed at 109.25.

- 1hr: H&S reversal pattern formed with neckline broken signalling UJ price could go as low as 107.85. Would like to see a break below 108.70 before considering and sells.