Thursday, July 23, 2009

July 23 - USD YEN Situation



Previous high 94.8 has been topped out. At this point, there are two possible ways.

Either ITD 11 high is due late and in this case after it's in, we are moving lower to ITD 1 due around Aug 6.
Or ITD 11 could invert in bullish scenario as ITD is currently in inversion time zone, and this will make ITD 1 to be a high instead of a low due around the same time at Aug 6. In this bullish scenario, MTD 7 low is most likely IN at 91.7. Bullish count will be negated if USD YEN drops lower than ITD (11) or 93.08

Posted is chart for the bullish scenario.
 

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