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Author Topic: Japanese Yen Index is on Catapult  (Read 383 times)
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Amy
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« on: August 05, 2010, 11:17:59 PM »

Hi everybody,

Pay attention to this index, which makes a very bullish pattern called Catapult, which is a double top lies on a broader previous top.
There is still a risk of shakeout in the Yen, but I would be very catious now with longs on yen pairs.
One remark: EURJPY made a bullish divergence on weekly TF, which implies the end of a shallow wave 5 and beginning of correction (long on the pair).
If you wish to follow the index you may find it either at stockcharts.com or finviz.com on Futures link. I would say that confirmation of breakout of the index must be at least 2 boxes over the last top, i.e  120.

LUCK
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sunman4008
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« Reply #1 on: August 11, 2010, 11:05:56 AM »

Hello,

Interesting point and figure charting.....

-Manesh
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