FX:GBPJPY   British Pound / Japanese Yen
47 0 2
If the rate manaes to move decisively outside this ellypse we can predict the further direction. As we are at the low of it now we have to watch whether it can hold below it. I am taking a long position here and am ready to turn it into short if neccesairy.
Trade closed: stop reached: We broke below the ellypse.
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