Japanese Yen Advance

I have been following this pattern closely … after an amazing move upward, we have been consolidating in what looks like a multi-month triangle.  From a counting perspective it does fit the  characteristics of a 4th wave so we’ll have to watch it closely for signs of the triangle being complete.  At this point, right now, I don’t know.  The symmetry of the ratio’s of the legs is “close” to the rules (they are supposed to be .618 of each leg) and the most latest low of yesterday finished a very nice buy pattern.  For now I will sit on my hands … but the move is coming for weakness of the JPY versus the USD.

long term count

long term count

 

daily chart of triangle ratio's and potentiality

daily chart of triangle ratio’s and potentiality

 

other targets

other targets

 

pattern complete

pattern complete

 

60 min chart as of 0400 10/10/2013 ... pullback coming to buy (?)

60 min chart as of 0400 10/10/2013 … pullback coming to buy (?)

 

 

 

 

One Comment on “Japanese Yen Advance

  1. Pingback: relative strength of GOLD vs the USDJPY importance | Bart's Charts

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