As I have warned repeated times in my Nov 25, Nov 26, Nov 27 post, USD JPY is very near to ITD 7 low and MTD 6 low, and MTD is travelling UP for the most part in December. ITD 7 and MTD 6 low were due at 85.
A closer look at both ITD chart and MTD chart show that the rally still has legs and most importantly TIME to complete. IMO, USD JPY is good to buy on dips for the month of December.
3 comments:
Hi CMellon, the chart is great. I just wanna ask u if this is correct; if UJ & GU goes as predicted, it means that Geppy will be travelling down until somewhere 21 Dec, maybe touching the 135 (maybe lower) area?
Hi whatisgud,
I doubt that GBP JPY is going to drop too much since as I said USD JPY should be bullish in the month of December, therefore somewhat supporting GBP JPY.
Thanks for your info.
I think GJ will retrace to 146.8-147 before diving to 141.6 area.
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