Posted by millionaire | Sunday, February 10, 2008 | | 0 comments »


well,let's take a look at daily usd/jpy chart above,i got the potential upside gain after break resistance at 107.30,then i just aware the next potential breakout toward 107.81,if the price pass this level,we should try buy first toward 38.2%=108.67 50%=109.83 or 61.8%=110.94 level,be careful after price reach potential reversal area around 50% and 61.8 % this is a ultimate resistance happens because 50% level same as a high 1nov2008 candlestick and 61.8% same as 3dec high candlestick.The price just hovering around big range 105.90 to 107.81 in 2weeks,while the risk to the bottom can't to deny,but the rest situation range look like japanese yen need to hiking first before resume the downside target around 103,101 and 0.98.My strategy for those hold a long position after the price fail break 105.85 support last week have a best chance to stand toward 109.83 and 110.94,this potential target same as a my spot potential reversal price for sell position too.Anyway,trade smart and judge for yourself,trade what you see and not the others.Good luck;)

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