Japanese Yen Elliott Channel Holding-Keep Focus on Record
Prepared by Jamie Saettele, CMT
“The sharp advance may be the beginning of the end of the wave 4 correction that has been unfolding since August. Currently testing Elliott channel resistance, 7784 is also resistance. As long as price is below 7956, I favor a top, reversal and decline to all time lows in order to complete 5 waves down from April.” Exceeding 7956 would negate the structure as described here and give way to a test of 7785 (beware the MoF / BoJ).
Trend Strength (M,W,D) – (2), 0, 1
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