Japanese Yen waited for its 50MA to touch, now rises again
check this out
the 50MA rose steadily, slowly, and eventually touched in early December
in the last two weeks it has gathered some strength
we will now begin to hear of reports on Japanese import price increases
the anecdotal evidence has already begun
THAT IS THE BIG SURPRISE EARLY FOR NUMBNUT ECONOMISTS IN 2004
stockcharts.com[h,a]daclyyay[dc][pb50!d20,2!f][vc60][iUb14!Uh15,5,5]&pref=G
as for the USDollar, a bounce off 80 is possible
but too far in the future for me to examine
I think it might bounce closer here like at 84-85
notice its momentum swing from 92 to 100 then a descent
a same size swing would take it to 92 - 8 = 84
stockcharts.com[h,a]waclyyay[df][pb50!d20,2!f][vc60][iUb14!Uh15,5,5]&pref=G
the central bank powers that be will control the magnitude of the descent and its speed
we have a couple bounces before we get to 80, for sure
I will say this
WE ARE IN THE DANGEROUS PHASE #2 THAT I HAVE MENTIONED BEFORE
all major currencies are making new highs versus the pathetic USDollar
the US$ is in the news and headlines every day now
this is a primary characteristic of the Elliott Wave 3
technicals, fundamentals, and publicity all align !!!
this could soon get out of control
but I doubt it
instead, I expect we will see intervention after intervention, which gaurantees a decline FOREVER
/ jim |
