【BTCJPY】Break of the neckline of a bearish inverse head and shoulders pattern!

In the fourth post "BTCJPY: Small skirmish on the eve of the inverse head and shoulders formation" published on July 14 (Saturday), I stated that a small skirmish forming an inverse head and shoulders on a daily basis would likely be settled during the long holiday. In fact, on July 16 (Monday) a longer bullish candlestick appeared and the neck line of the inverse head and shoulders was broken. As of now (17th at 14:00), there is movement pushing toward the neck line.

However, even though a single bullish candlestick has broken the neck line, it has not shown enough to be considered a sure sign. From here, the key will be whether the neck line is broken again, or if there is a small pullback before turning upward. If it continues to rise, the price range from the neck line to the bottom of the inverse head and shoulders, about 100,000 yen, and the price target of roughly 850,000 yen above the current level will be the target.