market, which is USDJPY, could continue to provide us with
good trading opportunities. We see a pattern of lower highs
over this period and a habit of finding support plus or minus
2.5 or so points of 100.00 over those years. The next step
would be to take a look at the chart of the next lower time
frame, which would be the weekly chart:
The weekly chart in Figure 4-2 provides a picture of how
this market has traded over the years from 2004 to 2008. We
can see that this market is in the lower half of its six-year
range and is showing a pattern of lower lows over the last five
years. Here we are still just looking at the big picture, not
focusing on individual candles.