Saturday, August 22, 2009

EURJPY Feb. 22, 2009

EurJPY seems to be trading in the latter stage of wave 4 of 5 of (5).
There is strong resistance at 120.00.
I am short with a stop at 121.00 1st target is 116.50, which is the bottom of the channel.
There is still a little room upward, a patient trader waits a little while to enter closer to the upper resistance line.

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