AUDJPY WEEKLY OUTLOOK JUNE 15-20

AUDJPY is looking to fulfill an inverted head+shoulders pattern based on the 4H and lower timeframes. The markets reacted this week with the Federal Funds Rate being kept at 0.25% for the USD. The markets have reacted strongly to that decision and has showed signs of trend reversals/USD strength in most pairs. The criteria I am looking for regarding this pair is 1 of 3 things. A 4HR bullish closure above 74.302. Whether that be a bullish engulfing candlestick, bullish inside bar pattern, or a bullish pin bar candlestick. This should take this pair to 75.495, which would equate to about 125 or so pips. Patience is key.