Technical Analysis USDJPY Potential Reversal Zones

Hi All,

The USDJPY fell through the .786 level of the last swing. So where is it potentially going to stop, I have done some time calculations and I have a turn in time estimated for the 3rd December 2009, turns in time are like turns in price, you don’t know its right until after the fact. You can even wait a while to see if the level holds. Getting in late on these moves is not an issue as the moves are going to be big anyway.I have 2 levels on or around the 3rd of December to look at these are 84.189 and 83.740. They are valid from the 3rd onwards, if the market goes lower then the estimate before the time, then they are invalid levels and I ignore them. When these levels work the market will react within 20 points. If the market stalls at these levels like it did on the .786 level then its a bad sign. You want to see a reaction against them. I have also marked the last low the USD hit against the JPY back in April 1995 at 79.940, already the Bank of Japan are grumbling about the weak dollar.

Best Regards,

Mike HAran

Tagged as:  abcd pattern · forex · Forex Trading · support line · USDJPY