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rufffen · 14-07-2006, 09:39

Just an update: NO POSTS IN THIS THREAD PLEASE, KEEP IT CLEAN!

USD/JPY: As long at 116.80 holds we will see more downside soon, two targets initially 114.90 and 113.90. This item broke weekly resistance area1 and trading above monthly balance area, however next weekly resistance area low border is 116.50 and upper border is 117.40, so as long as the price doesnt reach the 117.40 / better yet 116.80 definately more downside to come.

Id say 113-114 is safe, however might accelerate to 110 soon. Daily WAVE structure doesn't shed any light on possible direction, so I use high probability areas for reversals and channel setups and patterns instead.

14-07-2006, 09:39	#35
rufffen Zone trading Join Date: Jun 2005 Posts: 1,057 Downloads: 2 Uploads: 0 Rep Power: 5	Re: EUR/JPY CYCLES UPDATE Part1 Just an update: NO POSTS IN THIS THREAD PLEASE, KEEP IT CLEAN! USD/JPY: As long at 116.80 holds we will see more downside soon, two targets initially 114.90 and 113.90. This item broke weekly resistance area1 and trading above monthly balance area, however next weekly resistance area low border is 116.50 and upper border is 117.40, so as long as the price doesnt reach the 117.40 / better yet 116.80 definately more downside to come. Id say 113-114 is safe, however might accelerate to 110 soon. Daily WAVE structure doesn't shed any light on possible direction, so I use high probability areas for reversals and channel setups and patterns instead.