Monday, September 2, 2013

USDJPY--9_2

Weekly Climax is 98.35
Price still developing in 5 waves up
Likely longer term scenarios

Wave B to 106ish -- forms .78-1.27 Butterfly at this level too- then C wave Down-- 5 waves to 93 or--(and more probably a triangle CDE to continue forming between 106 and 98.35 before the real wave 5 up.
Fibo time for wave 4 to end is 9/22 - 2/2/14 - plenty of time for a triangle to form.

Lots of Resistance too...