Ready for the Yen Shock?

If USDJPY clears resistance, next stop is 125. In the process of getting there, it will clear the 40-year resistance line around 118. If it clears the last resistance just below 126, the mother of all inverse H&S patterns will complete with a target of 175.

The chart of USDJPY is much stronger once it breaks out though. Above the 170 area, there isn't much historical resistance to a move back towards the 265 level.