Friday, February 24, 2006

Market Update

First USDX and JPY other to follow later.

USDX
Good levels but wrong timing in previous update..
Made a low at 90.09
Probably it will go down to 89.7 if not lower. Should stay below 90.60/70
Above that, could be a good sign of a continuation above the 92.6 high
On the downside, as in previous update, failure to break below 89.70/60 could be a good indication of a possible continuation above 92.6 top.
Below that, probably to 86.3
Intermediate term still UP.

JPY
previous post(s) still on.
Should stay below 117.40/60 which is the second target up for the ongoing correction, with 116.9 being first one.
I'm confident for at least 115.70/40 being first target down, and second down around 111.80/40 to 110.60 to 109.73>109.38/23
Intermediate term, if this drop goes below 110.70/60 could be a good sign of intermediate top in place @ 121.37, and the correction from that level would be limited and would not exceed this top. Longer term Down.
ID

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