USD vs JPY an update

CLIFF NOTES: intraday, the pair has just completed a 5 wave movement down.  folks, it’s a tough count in that we are either a-b-c complete and we move UP and highter above 103 from here OR we subdivided and after this brief bounce we continue down to attack the 101 level which has held for 6+ months.  If we break 101 a target is shown below.  take note – we completed 5 waves up so that is either A or 1.  either way, monitor the USD vs JPY closely as the opportunity to BUY again is coming and it will lead to new highs beyond the Jan 2014 high.  Stay tuned … take note of the monthly.  My gut tells me this is going to be a run away freight train if the 101 levels gets taken out BUT it’s one that needs to be BOUGHT w/ a nice pattern.

get ready to rumble … Main20140808100711Main20140808095948

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Author: BART

BART is a CMT and an expert a "advanced" pattern recognition used w/in the intermarket analysis discipline. He's also an accomplished Business Development Executive providing solutions to a myriad of business markets.

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