USDJPY--50% Retracement zone 109.33 (Hope so you bought)

Hope so..every one bought UJ in the zone 109.30--109.35 ...which i mentioned in morning report -possible zones for adding longs... Look it took the support of channel exactly which was drawn since morning....If this time it crosses 109.85 which will be profit taking spot or if it crosses we will ride the dream wave ...going beyond 109.90 --Can you imagine..Regards,Abhishek

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If 109.32 is not the bottom it can dip to 109.18--109.20 which will be 61.8% of the rally from 108.78 to 109.89 as mentioned earlier ...the fall from 109.89 to current low 109.32 is still corrective and we shall sooner or later look for impulsive wave ....Our critical & key level shall be 108.74(a pip below)...Regards,Abhishek

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109.32 IS STRONG SUPPORT AS IF NOW ...IF BREAKS THEN ONE SHOULD EXIT & TRY TO RE-ENTER IN THE ZONE 109.18--19.20 ZONE. CURRENTLY IT HAS BEEN CONSOLIDATING FOR LAST 3-4 Hrs. Our Very critical level remains 108.74.--if prices push up & fail to take out 109.85 or close by--One should book complete profit or else hold if it crosses 109.85. Good Night & Take Care