USD/JPY – Dollar/Yen (Last:98.753)

Currency traders should try to take advantage of the very attractive ‘camouflage’ pattern developing in this vehicle. Notice that the A-B impulse leg looks like nothing special. It meets our criteria perfectly, actually — especially because the point ‘B’ high failed to surpass some obvious prior ‘external’ peaks.  I’ve sketched out a hypothetical set-up that would have a very high probability of getting bull traders from the ‘x’ entry point to ‘p’, at least. _______ UPDATE (September 13, 2:09 a.m.): This vehicle has tripped a very promising, bullish ‘camo’ entry signal at 99.522 (see inset, a fresh chart) with a pattern almost identical to the one I’d sketched. The actual coordinates lie (on the daily chart)  at A= 98.535 (9/6), B=100.602 (9/11) and C=99.005.  The upthrust had come within an inch of the p midpoint resistance by day’s end, strongly implying it has plenty of power to reach D without much ado. UPDATE (September 16, 2:42 a.m. EDT): This vehicle in fact died an inch shy of the 100.039 midpoint pivot where half of any long positions entered at 99.522 would have been taken off for a partial profit. Since the tout was posted after the ‘x’ entry signal was triggered, trades would need to have been initiated via camouflage, producing results that would have varied. The inability of this contract to achieve p on such a promising ‘camo’ pattern implies significant weakness ahead.