Daily charts still have some ways to go northward if they are to complete this current leg higher. Last nights action has taken the wind out of their sails and the Spinning Tops on the daily charts of UsdJpy, AudJpy and GbpJpy certainly give credibility to the retraces currently unfolding on the 4 Hourly charts.
The notion of these Yen crosses still moving higher on the Daily TF also fits with the view that the E-mini S+P futures also need to see this leg complete toward the 1368.25/1376.50 zone. Current pull-back may extend to as low as 1325 with minor support at the 89 ema @ 1332.50.
E-Mini S+P
AudJpy - Daily
EurJpy - Daily
GbpJpy - Daily
Thursday, 16 February 2012
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