Japanese Yen Intervention Comes AFTER 5 Wave Move
Prepared by Jamie Saettele, CMT
Recent comments were “look lower towards the measured 7400 level. I plan on playing an early November (bullish) reversal.” The reversal occurred on the last day of October but I do believe that this intervention should be ‘believed’ since it occurs AFTER a completed 5 wave Elliott wave pattern. Support is expected at former resistance levels of 7747, 7710, and even 7650. The next upside levels of interest are 8022, 8147, and 8223.
Trend Strength (M,W,D) – (2), (1), (1)
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