Archived IMT (2009.01.12)
The interpolated 86 yen target on USDJPY Head & Shoulder is on its way to take hold, consistent with the analysis sent to CMC Clients on Friday's post-payrolls note. Similarly, GBPUSD peaked out at my projected $1.55 and now eyes $1.45. We're witnessing a classic return to risk-driven trades, whereby the JPY and USD are the winners, but the JPY has the last word for now.
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