SGDJPY 031212

Why suddenly was I looking at SGDJPY? For fun?Nope. Cause I am going to japan next year march and I would like to maximize my exchange rate so i am spent more in japan at lower cost.HAHA...Well, I found something interesting and would like to share with you all my wave count analysis on this pair.

Looking at the chart should more or less tell your everything. A extended wave 3 is now forming a subwave 4 after hitting its 261.8% fibo line, more upside should be see once this correction is over and we might probably see it breaking 2-3 years high (since 2008). This should be the case as I felt that japan as of now is undergoing an election, and in order to rally its stocks (pre-election phenomenon), she needs to depress her currency. Thus, this way I will see a strong move in this pair soon. In any case, this is a very nice uptrend pair if you were to zoom out of this time frame which I had shown.