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USD/JPY Intraday Resistance Approaching?

Last updated 2/12/2009 11:46 AM EST (GMT -5) 0 Comments - Add your comment

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FX360 Technical Analyst Staff

Technical Analyst, GFT

In this morning's technical report for the USD/JPY ( here ), we projected a bearish Gartley completion with a projected short entry at 90.83. It's important to understand that these geometric patterns not only help us identify high probability price points at which future market reversals may occur, but also the approximate time that that may occur.That said, this bearish Gartley pattern is projected to complete at 11:30am EST.

Foresight-A.I.™ (artificial intelligence) may add additional confirmation to this trade as it's forecasting a bearish reversal at approximately 11:45am EST (see 2min chart).

Foresight-A.I.™ is a market timing indicator that can validate your pricing analysis by forecasting the times at which high-probability trades may occur. As a result, this truly unique leading timing/trend indicator can help minimize risk, and maximize profits.

If the USD/JPY does in fact reach fib resistance around 90.80 near the forecasted reversal time and begins to turn, we will immediately tighten stops, and look at 38.2% and 61.8% retracements of the CD leg as targets if it does in fact complete.

1hr Chart - This morning's projected bearish Gartley pattern completion has developed nicely	2min Chart - Foresight-A.I.™ may potentially confirm or negate our projected entry

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