Wednesday, July 22, 2009

July 22 - EUR JPY : ITD 12 / MTD 8 High position

Looking at the EUR YEN ITD chart, comparison of ITD 12 positions to previous two cycles show that the current cycle's ITD 12 high position could already be IN at 134.75. Confirmation of a daily candle close below 132.74 is required to safely conclude it.

Looking at the EUR YEN MTD chart, comparison of MTD 8 high positions to previous two cycles also show that the current cyce's MTD 8 high position could already be IN at 134.75. The same confirmation of a candle close below 132.74 is required for more safety.

In other words, Intermediate and Medium Term top have either already been IN or very near to arrival.
 

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