In the last Usd/Jpy forecast it was stated that the X-Sequentials WX down move segment has been completed at 88.10 and a up move ´till the X-Sequentials X7 inverse targetzone from 96.65 to 99.44 is to due .
The Usd/Jpy peaked last week at 91.09 .
Fridays close at : 90.48 ( 3/12/2010)
Chart 1 :Usd/Jpy 60 Minute X-Sequentials Chart
With the peak at 91.09 the Usd/Jpy has formed a X-Sequentials X5 reversal pattern.
The down moves target zone is located at 89.29 - 89.13 .
Chart 2:Usd/Jpy 60 Minute X-Sequentials Chart -internal X-Sequentials X5 pattern
Short the Usd/Jpy with a stop at 91.09 ´till 89.29-89.13.
Afterward take a long position within that down move targetzone and set your stop at 89.00.
The Usd/Jpy should then break above the peak at 92.15 .
yours sincerely ,
Devin Sage ,TXA Trading