Japanese elections confirm major chart patterns

 

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.

Markets: $USDJPY, $NKY500, $TOPX, $N225

 

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 Blog