USDJPY - An energy point and trade setup

FX:USDJPY   U.S. Dollar / Japanese Yen
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There was nice clumping down near the blue c-pivot. But this is not a true c-pivot, it is merely a potential pivot that I am watching.

What is more interesting, perhaps, is the sliding parallel off of the red down-sloping median line set that has been tested a number of times and is holding. The Pink Modified Schiff also (with its sliding parallels) appears to be catching frequency - and both are pointing downward with a nice energy point that already played out.

I would be watching for what happens as price retests (if it goes that low) the blue lower parallel and the pink modified schiff median line .

More importantly, perhaps, is the MPL             sitting below, that might represent its greatest challenge.
stopped out; just like I like it - if it's not working, take me out quick!
+1 Reply
itaskar wuweitrader
haha :) I agree
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