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#1723 (permalink)

10-22-2008, 07:06 PM

Big Mike

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Join Date: Oct 2005

Posts: 1,606

Quote:

Originally Posted by etarkum

Hi Big Mike, agree totally with the triangle formation, and a similar pattern is on the Dow as well, which targets Dow towards 6000's level soon! But Brad's idea of a bounce in USD/JPY is a bit scaring, since if JPY will reach 102ish by Friday, then we may see a good bounce in US Stock markets tomorrow and day after!

If i apply classical EW theory, I can see USDJPY move back to its wave 4 of lesser degree, which will give us the corrective target of 98.50-99.0

Under current conditions, I would be surprised, if it moves higher than 100.

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