12 - 1 - 08 USD/JPY

woodhot · 发表于 2008-11-30 07:31


	On the daily chart, RSI upside swing likely fails to produce a new high (to high "B" -- reference attached chart), which could lead to a new low (to low "b")so that would drive price to a new low (to 10/24/08 low 90.87). P.S. Wave 1 started from 10/15/07 high 117.93; Wave 2 started from 11/27/07 low 107.27. Downside moving from 6/22/07 high 124.12 likely develops a (A, B, C)3 wave structure to serve as wave 5 in a higher degree wave started from Jan. 2002 high 135.16. +++++++++++++ For long term, better to watch the likehood of development above, and to wait and see price either exceeding 100.55/103.05 or below 90.87 before making decision to trade.

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