Here is where we are at now with USDJPY. The chart I posted a couple days ago was at 97.22 where the yellow line is. I have been watching this pair closely since I noticed the head and shoulders setting up. I have been watching the 1 hr chart and wait for price to range for a little bit. Once it has ranged and defines the line that shows a little support and not wanting to go lower, I wait for that line to be broke and a close below the support. Once the support line is broke with a close below it, I add to my position. Right now we are at a very crucial area, the neckline. I will wait and see if that low gets tested again. If it is tested and price bounces up off that line, that shows me support is pretty strong there. If price bounces off and jumps up, I willl watch price action and wait for a signal to go short some more. Once it does drop past the neckline with a strong close, I will add to my position even more since I am expecting this to go at least to the 90.00 area. At the moment, adding all the pips up, I am at +1,000 pips for the week starting monday morning, on this pair alone.
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JOHN 3:16