Japanese Yen Breakout
Prepared by Jamie Saettele
“Directional pivots are 8321 and 8110.” The move above 8321 and strong trendline break (not to mention breaks above the 20 and 50 day averages) makes it likely that the ultimate break will be to the upside (above 8450). 8368 is the next level of interest to the upside. From an Elliott perspective, it is possible that the base from the November low is a series of 1st and 2nd waves.
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