Elliot Wave Signal 13 September 2007

13 Sept 07

US Dollar vs Japanese Yen


Medium term trade.

TimeFrame = 4 Hours.

Signal = Buy Signal at Current Market Price.

Target Profit = 119.26 area for our first target profit.

Risk Reward Ratio = 5.0 +

This is a medium risk trade on taking advantage of possible wave iii impulsive trend.

Elliott wave Analysis :-

Our Elliott wave analysis point out that market has found a good support in previous low for a base of wave (ii) and now they are ranging before speedup to make a new top for elliott wave (iii).First target is at 161.8% of fibo at 119.26 further higher target may archived of USD/JPY have enough momentum to pass previous resistance.

Below are illustrated elliott wave pattern of ours :-

elliott wave signal

From: Elliot wave signal prognosis

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