Tuesday, November 10, 2009

USD/JPY 4 Hour Triangle


I have been watching UJ very closely for the past few weeks. Here is another possible count for the  pair. Triangles are very rarely seen as in wave 2's so if this count is correct it is likely that a B wave is nearing completion. The 61.8% Fibonacci has held as support so far with no 4 hour candle able to close beneath it. I am bullish on this pair as long as price is above 89.50. If you have an opinion or question on this I would be very interested to hear what you have to say, please comment and I will get back to you with my thoughts.

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