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Yen Crosses Plunge to Test Support: Expect Corrective Rallies

Discussion in 'Technical Analysis' started by ActionForex.com, Jan 14, 2009.

  1. ActionForex.com

    ActionForex.com Content Contributor

    Dec 24, 2007
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    The decline from just above 131 may be the next bear leg within the drop from 170. The advance from the low is in 3 waves, confirming that the larger trend is down. Expect a bounce from near support (December 5th low at 115.85). Potential resistance begins at 119.77

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