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USDJPY--Wednesday, March 4, 2009

Same pattern followed last week in USDJPY remains valid (see here, here, here, here and here). Former fibonacci 2.618 target at approximately 96.80, once passed, became impressive support following the pullback from last Thursday's high. That high came at the minor fibonacci level (3.33) between major targets at 2.618 and 4.236.
090304-0737-jpy4hr.gif

This morning we have gone decisively through last Thursday's high. Next stop 101.20?
090304-0737-jpy4hr-a.gif

Posted by Pure Guesswork on March 4, 2009 7:54 AM |

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