Japanese elections confirm major chart patterns
- Posted by PeterLBrandt
- on December 16th, 2012
With super majority by LDP and NK, the major chart patterns in the Japanese markets will be easily fulfilled
The Topix completed a 5+ month symmetrical triangle in mid November. Its target of 867 should be reached within weeks.
The USDJPY completed a major H&S bottom on the weekly graph last week. Its target of 92.60 may take a little longer.
Both of these charts have been features often in recent weeks by The Factor. In fact, the $USDJPY was our “Chart of the Day” last Friday.
The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.blog comments powered by Disqus
Peter Brandt entered the commodity trading business in 1976 with ContiCommodity Services, a division of Continental Grain Company. From his start in the commodity industry, Peter's goal was to trade proprietary funds. But, he first needed to learn the business. More »