Monday, July 4, 2011

USD/JPY Wave Technical Analysis - July 4, 2011

Another attempt of the USD/JPY to break the 81 figure level was not successful. At the same time the formed wave structure looks like a series of abc waves included in the future horizontal (diagonal) triangle.

If so, the price still needs to form e and d waves of such triangle before possible beginning of a decline to a relevant support level 79.55.

 

Performed by Alexander Dneprovskiy, Analytical expert
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