Tuesday, 27 March 2012

USDYEN, Tuesday, March 27, 2012

Hi everyone, I'm currently trying hard to make this Blog working. Just bear with me for a while. The Content Management System simply drives me nuts. I will try to keep it updated every day.

As you see by the 30min chart I'm waiting for a mild retreat to get long again. The pair stopped just before the 38.2% trend line and touched the confluence (K)

This is part of a long process. as you can see by the monthly chart below, the USDYEN completed a 120 month cycle (10years), from Feb 2002 to Feb 2012. This new phase might take it back to 101.

Below USDYEN weekly. If the wave count is correct, the pair is trying to complete wave 5, i.e. last inpulse wave up, for the time being.

Also check the USDYEN in the 4hour chart below which stopped right at a conflunce. If that is a hammer, it's the start of a trend. Instead, if that is a Pinocchio then the chart will come back to the same low  before starting the new uptrend. Will see.

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