USD/JPY -8/9/2022-

• Possible inverse head and shoulders pattern on monthly chart
• Bullish pattern, formed at bottom
• Next bullish target is 1998 high at 147 followed by 1990 high at 160
• If the pattern is valid, bulls still have long way to go and can reach decade highs
• Based on the measurement method, Yen could go to as low as 200
• Measurement method for this pattern is the distance between the head and neckline, which is around 50 in this case, added to the breakout point around 130