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rufffen · 13-07-2006, 13:49

USD/JPY Update: Rates out Friday, so Ill stick with SOUTH scenario on YEN, Id say we can spike up to 116.20-116.40 and then go all the way down (up to 400 pips down), but I don't expect it to make to 112 in one day.

If things start to move past 116.20-116.40 mark on yen, Id wait for a possible topping action around 117.40-117.80 and go short again with stop around 118 area - this could be an option if the rates remain the same.

Once YEN starts dropping Id look to short crosses too, but so far I cant recommend any good trading setup, since GBP/JPY is overshooting too much.

13-07-2006, 13:49	#28
rufffen Zone trading Join Date: Jun 2005 Posts: 1,057 Downloads: 2 Uploads: 0 Rep Power: 5	Re: EUR/JPY CYCLES UPDATE Part1 USD/JPY Update: Rates out Friday, so Ill stick with SOUTH scenario on YEN, Id say we can spike up to 116.20-116.40 and then go all the way down (up to 400 pips down), but I don't expect it to make to 112 in one day. If things start to move past 116.20-116.40 mark on yen, Id wait for a possible topping action around 117.40-117.80 and go short again with stop around 118 area - this could be an option if the rates remain the same. Once YEN starts dropping Id look to short crosses too, but so far I cant recommend any good trading setup, since GBP/JPY is overshooting too much.