Monday, October 25, 2010

A bottom for Usd/Jpy ?

Here's a possibility for a bottom in Usd/Jpy in the form of an ending diagonal. In an ending diagonal wave 5 cannot be larger in price than wave 3, so price cannot go below 78.35. On the other hand, if this ending diagonal is a wave 5 on itself, then it should ( but doesn't have to ) go below the bottom of wave 3, which is the all time low at 79.76. This gives a small range for price to bottom at...

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