Elliot Wave for Eur/Jpy
It's been a while since i post here. Picture above is my prediction for coming trading session. Right now, all i see is a correction move and EJ will bee retesting support become resistant @ 129.5/130. Also nice pin bar @ monthty is reforming. With Euro fundamental is a bit sluggish & also last time Trichet spoke, he hint that ECB will decrease rate. I do not sure but i think market is position the price as we speak.
So, at this point, im scalping along the way to 129.5/130 with small position and ready to add some of my short position maybe next week if we see 129.5 reach. Target is already there @ 100% fibo expansion @ 121.83. By then, we'll see if what US done for now which is printing money all over & their bullshit coverup debt can make sentiment turn bullish again. I also noted that daily candle is a bullish sign for long term curenncy vs Jpy. We'll see in the next 3rd or 4th quarter if the bullish sign coming up.
That's all for now folks.
Friday, April 24, 2009 |
