Please see my post regarding USD/JPY from yesterday first:http://theelliottwavesufer.blogspot.com/2011/06/usdjpy-low-risk-buying-oppotunity-at.html
As I said yesterday the risk/reward was excellent. It's not often, that wave ii offers a golden opportunity like this, but when it does the offer should be taken and reward can be outstanding.
As things are shaping up it seems more and more likely, that a wave ii bottom is in place. A break above resistance at 80.68 would be next good indication, that the bottom is in place and call for a continuation towards 81.61.
If we see 81.61 tested the reward will already be 10 fold the potential loss if 79.56 was broken.
No comments:
Post a Comment