JPY

yeah, EWA can be a nightmare. It is one of 5 tools I utilise and when the count is not reasonably clear I never try to force it, just move on to the next instrument. I studied it first back in late 90's and grew to hate and despise it. Took a 3 yr break from using EW but then returned with a change of attitude.

When traders ask me whether it is something they should study my reply is to spend some time getting the rough gist for general pattern recognision. By doing this we come to know what to expect from price action. Same applies to market profile volume studies which teach us how markets behave. If we understand how mkts typically behave and why then at the very least this will reduce frustration :-)

gunjack...

i'm a technical trader but i don't really use EW.... used it earlier years of trading... but never really worked out.... too many possibilities and too many counts... never worked for me.... became a better trader after i ditched EW.... :)

current rally looks good for 86/86.50....

but would be a good opportunity to short levels above 86 for correction back down to 81 level b4 heading higher.....

gl/gt

Interesting reading for Yen traders from FT alphaville -
http://ftalphaville.ft.com/blog/2011/04/05/536321/five-reasons-the-yen-will-strengthen/

Unloaded my longs from 77, 78, 79 and G/J long from 125. :)