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Triangle is also active on cash market. Wave counts (not Neely Wave) say
yen should weaken sharply. Only caveat is that is what everybody thinks,
and I still believe that US stocks are set to correct, after topping on
6-May, 12-18% with risk of deeper drop possible.
Steve Poser
--
Poser Global Market Strategies Inc.
http://www.poserglobal.com
Mervin Yeung wrote:
>
> Hi RTs,
>
> I am looking at Yen Futures (June) and there is a triangle pattern. We
> have to wait and see which way it is going to break out. Fundamentals
> suggest that it shall break out at the downside. (i.e. Yen depreciates
> against USD.) Technicals suggest that it shall break out at the
> upside. This market will be fun to watch.
>
> This is my personal opinion, not trading advice.
>
> Mervin
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