Yen Technical Outlook

Published July 30th, 2008 - 07:35 GMT
Al Bawaba
Al Bawaba

Preferred count: The advance from 95.72 is wave W in a W-X-Y complex correction and the drop from 108.57-103.76 is wave X. 



Wave Y is underway towards 116 (equality with wave W).  Alternate: price action from 108.57 is forming a triangle in wave X.  Expect 108.57 to give way next week, if not this week.  Move risk to 107.69.