I predicted exactly the advance of U/J, I also predict the target U/J reached: 100.40
Like an engine, needs to take a rest after a long run. U/J also needs a rest after testing strong resistance level: 100.40
I see a on the chart, I think before advancing again, U/J would retrace a little bit, but in the long term, U/J will railly to the next target 101.
101 is a very strong resistance. When I have time, I will explain how to use Nine to determine key . 101 is a level like that. 101 is also 161% Fib extension level.
In order to U/J reaches that level. Market has to provide fuel for it.
I share my viewpoint in this topic about next week:
I bet on No taper next week ----->; Dow Jones, S&P500 rise ---->; Nikkei 225 rises too ---->; U/J rises. That is dynamic for U/J.
In short, I believe U/J will retrace to 100% Fib extension level :99.43 and then advance to 101.
Good luck for next week all traders. Economic data of Japan next week traders should care is :
- Foreign bond investment on Wednesday.
If Japanese investors begin to foster buying foreign bond, U/J is more clearer and stable.