Technicals, November 28, 2011; 8:30am
Overnight gains in the USDJPY cash market detailed in the 240-min chart below reinforce our basing/reversal count and define Thur's 77.00 low as the risk parameter we believe this market must now fail below to render the past week's recovery attempt a 3-wave and thus corrective affair that would be INconsistent with our preferred bullish count. In lieu of at least such sub-7.00 weakness, further and possibly accelerated gains are expected straight away.
RJO Market Research and Trading (RJO MRT) brings you the latest research on commodities and futures. They specialize in technical and fundamental analysis on all your major markets including: financial, agricultural, energy, foreign exchange, soft and metal markets.
As a hub for information, RJO MRT offers several forms of delivery to meet the needs of a vast audience. They strive to stay at the front of the markets by providing their followers with everything from market insight to trade strategies.
RJO MRT prides itself with using a combination of technical conditions and fundamental inputs such as economic or crop reports to help guide their viewers towards driving price discovery.