Setup USDJPY
USDJPY, give Quasimodo setup.
It forms H at 114.885 and L at 113.687 followed by HH at 115.520. from the HH the price fall to 113.003 where the compression begins towards downward.
Expectations: the price will continue making LL but it will come to retest the previous high at 114.885.
This point is also aligned with 0.78 fib level which I consider as optimal level as well as the discount in pricing.
It forms H at 114.885 and L at 113.687 followed by HH at 115.520. from the HH the price fall to 113.003 where the compression begins towards downward.
Expectations: the price will continue making LL but it will come to retest the previous high at 114.885.
This point is also aligned with 0.78 fib level which I consider as optimal level as well as the discount in pricing.
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