FX:USDJPY   U.S. Dollar/Japanese Yen
Williams: The alligator's mouth is horizontal but points sightly down - closed - asleep. Momentum is approaching zero. It's been a while since a new high. The RSI is pointing downward below 50. Expect a nice move down - a significant correction to the dollar bull market...could be several months. Sell on a break of 115,842.

Bollinger: bands (20ma) are narrowing and at the lower end of normal width...minimum volatility. The price is below the 20 day MA and has been for a while. The bands point down. The latest daily candle looks weak - may be a gravestone at end of day. The last time price was above the bands was more than month ago. Price has been below the bands twice in that time.

I think we might see some significant action to the upside before the drop, but your sell stop seems like a good idea...I have mine slightly higher, but also trying to avoid the whipsawing action that's unfolding above it (117.17).
Been a while since I use Mr. Williams' tools, 'Trading Chaos' (2nd Ed.) was a great read, and a really effective methodology.
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