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Japanese Yen Focus is on 8400

Japanese Yen Focus is on 8400

2011-02-14 15:50:00
Jsaettele,
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240 Minute Bars

eliottWaves_usd-jpy_1_body_usdjpy.png, Japanese Yen Focus is on 8400

Prepared by Jamie Saettele

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). 8300 is potentials short term support and 8398 is a near term bullish objective (161.8% extension of 8110-8247 advance). A move to there might complete a 3rd wave up from 8177.

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