Sunday, March 18, 2007

USD/JPY - 60 MIN CHART
TRIANGLE PATTERN STILL INTACT...



USD/JPY pair is still trading within its Symetrical Traingle Pattern on 60 min chart. Now we're in the Wave D, after completingthe Wave C at 117.74. Breaking the 116.51 will resume (continuation) the Wace D where is started at 117.74 (the end of Wave C). 116.51 is the 61.8% fibo support of the 115.76-117.74 (Wave C). Well after completing the Wave D, then it resume the last upward rally in the form of Wave E and then it'll test the 115.16 where the 5 wave formation begins. A break of 116.51 and 116.40 (a 61.8% fibo support of 118.47-115.16) will be confirmed the ending of th Wave D and i it holds then supporting trendline then Wave E will resume...