USDJPY | Head & Shoulders Pattern & Neckline BreakdownUSD/JPYOANDA:USDJPYTradeTrioMarket Structure & Context for USDJPY 1. Head & Shoulders Completion: A clean Head and Shoulders reversal pattern has played out on the daily timeframe, with peaks forming in April (Left Shoulder), July (Head), and late August (Right Shoulder). 2. Trendline & Support Breakdown: Price aggressively lost both the multi-month ascending trendline and the 157.500 – 158.000 support structure, confirming a bearish market structure shift. Key Levels & Execution Strategy 1. Breakdown / Resistance Zone: 157.500 – 158.000 (Broken neckline and grey support block now acting as supply). 2. Primary Target: 148.500 – 150.000 (Major demand zone and Head & Shoulders measured move target). 3. Invalidation Level: 159.300 (Reclaiming the Right Shoulder high invalidates the downside expansion). Outlook Looking for short-term corrective bounces back toward the 156.000 – 157.500 supply region to provide lower-high entry opportunities. The breakdown opens up a clear path for expansion down into the 148.500 – 150.000 target zone. The macro bearish outlook remains intact as long as price trades below 159.300.