KNOW WHAT OTHERS DON'T
Welcome to my Market Directions ramblings.
I mainly focus on Major Forex pairs.
The idea is to grasp Intermediate to Longer term market moves.
I use different aspects of Technical Analysis and I take into consideration economic news data, but just in conjunction with my technical analysis.
Comments and criticism are welcome as long as they are constructive and will help both readers and me to improve our understanding of markets moves.
Wednesday, February 22, 2006
USDJPY monthly chart
On the monthly,
solid support @ 114 & 108
stiff resistance @ 121 & the red trendline. There is also the 200-month MA.
If she breaks thru' then we have something for I believe we've gotta retest 135, then onto 145-150, the domain of the Fib 23.6%.
Fib 38.2% = 192.
If we are truly in V then this figure is but miniscule compared to where we will end up.
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