USDJPY

Would like to see this pair pullback to retest the strong weekly support/resistance at 7955. I think this has the scope to climb to 8062 as jackozy mentioned. Will most prob trade in the morning. KI.

It looks like the consensus is for a retrace back down to the main trendline from the 2011 lows before a length uptrend. That is interesting because I'm also waiting to short this down from 80.62 at a major resistance and I'd be happy to reverse that for a major wave 3 long at that trendline:





dl.dropbox.com/u/20815047/USDJPYdaily29_10_12.gif

I've not shown any wave counts but it looks to me as if a rise to the resistance would be a wave 5. Going back to the Fib/EWT discussion with KI on the other thread, I note that the uptrend line may could easily intersect price at the 23.6% Fib when drawn his way (upside down).

dl.dropbox.com/u/4899609/usdjpy%20prediction.png







This is a prediction from the Reuters Eikon
This is for the average of all the banks.
It looks quite interesting.
remo