good to see some more chartists. we didn't do all requests
last week and this week is more requests.
i'm about done. looking forward to the footy.
here's the usdjpy chart from that bloomberg article.
how i would describe the action.
price has been in a sustained bear trend.
the recent spike in price has got above pink and red.
resistance is shown by the recent flat red line
and the brown lagged line hitting the candles.
a good sign for a turn but pink now needs to get above red.
for price to get into the cloud i like to see pink at the
cloud, so some time needed here.
the latest buzz word being used is sterilization.
they have hung on to the proceeds of the intervention
rather than take it out of the money supply.
the backlash is just beginning.
anyway, i read the article as saying
price will now stay above the red line
and should test the cloud.
that article again.
http://www.bloomberg.com/news/2010-09-16/yen-intervention-tested-by-break-above-88-on-ichimoku-technical-analysis.html
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