nmike

USDJPY- DUAL CLONING ANALYSIS

Long
FX:USDJPY   U.S. Dollar / Japanese Yen
40
Significant L-H- L pivots were used to draw a triangle, clones were placed at right bottom corners in effect creating an up channel . A horizontal reference range was also added and cloned. R clone 2 boundary targets were achieved, price found support at bottom of R clone 2 and rose back inside triangle(channel).The week finished with a test of bottom of triangle and a bullish candle,quite likely that price hits top of R clone 2 near term.

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