FX:USDJPY   U.S. Dollar / Japanese Yen
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4
Price needs to break above the purple and orange trendlines to get back to the black upsloping pitchfork .

A failure to break above will smack it down towards the upsloping fibo 1.382

Comments

Price has broken the downsloping U-MLH so it will head towards the black usploping P0-P2 ML.
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@ cryptoyoda: You should wait a bit and see how it clears the way.
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But how do we trade this? Go long if it clears the red MLH & short if it bounces down? Or does the impending risk of support from the fibo 1.382 mean the short trade's not worthwhile?
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jefftan cryptoyoda
Once it breaks the U-MLH you can long
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