71.80 will be hit before any true longterm rally starts based off the monthly chart could take a long time to hit---- but it will
71.80? japanese exporters are deadbroke (like the op's moniker) at sub-80. as in filing for bankruptcy. gone. the boj simply cannot allow for a move like that. they'll just run the printing presses until it stops. trust me, they'll win. they'll even resort to pegging the yen at the end of the day if they have to. a sub 80 yen means the total and complete destruction of japan. i'm not exaggerating.
it will print that like i said it could take a long time i dont trade off monthly charts but 71.8 will print
long time meaning what? decades? thats a nice open field you give yourself. how can one make money off that?
lol it is going there i just dont know how it gets there or when it gets there i dont trade monthly charts, but if i did i would be short around the end of april 09 looking for that target it could bounce up for 24 months for all i know but it will not break 110.67 before hitting 71.80 like i said i do not trade monthly charts, when i can accomplish the same thing on a m15 or h1 chart
I agree, Japan will not be able to survive being reliant heavily on exporting. It's not so much about what one sees in a monthly chart technically, but what Japan has to do to survive. Do they willingly desire default? Of course not, so they will do anything to get away from high Yen