the green spot was very important R and right now it been broken and we have pullback on it this is good sign for up but also we have a break on a blue trend line and this concern me if the price react to the red line and comes back on the green spot it should be another day or tow to get the price back where it is now ! and it would be a great day for scalping...
as we can expected price did go up after it hit 104 it retrace 106.500 and againg tried to go down but as we can see it hit 104.5 and we still waiting to see it reach 104 again ! if it break 104 we could be in a sell for long period of time and if dont we would see a up range again any how we are in this opportunity that could go up for a bit and make our day...
we could see the green line acting as good R line and its a really good approch if the line doesn't break for up we could think about sell its a good RR ratio trade its a bit risky at the moment but I will go for it if I get the my activation signal
we have reached the pint where it could get realy crucial this is the point that will decide it is still downtrend in USDJPY or it could change the direction and make a up trend.
after first try we cash out and wait for the second opportunity to go short but I want to see it happens in the exact point
as you can see we have this S on USDJPY and price did the first try to break down and it the pressure goes on we could go short with good R/R ratio
clearly usdjpy does not want to go short :D looking for a little break