The USDJPY fall from 121.38 has ended at 115.52 low, the key resistance of 117.70 has broken out, and the next cycle top will be after 15-01-2006. You should take a buy position now, put the stop loss under 115.95, and keep this position into next month.
Farhad Entessar, you are right. There is a strong resistance to usdjpy, and the resistance is acting on usdjpy. But my analysis is based on the daily chart. I think it would go higher but may not breakout 121.39.
Yes I believe you,it has made 123pattern like Mark Crisp mentined on his this ebook.USDJPY has form this pattern after breking this 2 piont,signaling Buy above 117.66 SL can be mantained @116.14,Tageting could be around recent highs of 121,or follow Money Management of traling with 7 day MA.
virshah
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