quick look at the YEN and the Nikkei 225

I’ve seen the catch phrase – “it’s raining YEN” and, well, it certainly has…folks, believe it or not I got stopped out around 77.5 on the USDJPY. What a game, what a game …

Anyhoooooo …. couple YEN things:

  • 3 drives to a top pattern present on the NK225 continuous futures.
  • USDJPY – a STRONG 5 waves complete/completing on the USDJPY … perhaps a little higher into the 120 handle as shown.
    •  .618 retrace is from the top of the decade long triangle .. we also have the 1/8 ths projection method using the signal reversal candle (SRC) sitting on top of the .618.  (that’s the .325)  FYI … this technique projects 141.25 on the JPY.
  • EURJPY perhaps a little higher into the 151-153 handle
  • AUDJPY pattern hit PERFECTLY … working that one tomorrow night.
    • THESIS (only a thesis) – this is a MONSTER triangle …..
  • CHFJPY – 1.618 extension pattern complete
  • GBPJPY – pattern appearing …
  • CADJPY – 5 waves appearing to be complete or completing

So, yes the BOJ has made it pretty darn clear on their intentions … however, I’m a pattern guy and it appears the patterns are calling for a bottom in the YEN …

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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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