[TRADE SETUP] (RR=4.54) USDJPY Downside Breakout

FX:USDJPY   U.S. Dollar/Japanese Yen
71 0 4
11 months ago
USDJPY             pushed through the falling TL and prior swing resistance level , we could be looking for it to make its way up to test the 200 SMA before falling back down. Still in the trade SHORT and will continue to see what happens. Will be moving SL to a bit above the 200 SMA / 78.6 fib level as PA plays out.

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11 months ago
Trade active: Looks like PA went slightly over the 61.8 level and is now heading back down, I am in the trade and have already moved my SL to breakeven+5. Will trail my SL with a hopeful TP1 of 110.70 with a possible further push down to 109.80 area.
***** HOW TO READ THE CHART: The red and blue lines represent clusters of BUY/SELL orders. The thicker the line, the stronger the cluster. Red = SELL, Blue = BUY. Grayed Out = Cluster Hit & Gone.
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