8/25/09 – 9:55 am MST -Several markets are trading in choppy sideways patterns right now and it is hard to find anything to get excited abou, especially in the currencies. However, as I was scanning the markets today I did see something developing in the Japanese yen.  the market had formed a 5-wave continuation pattern between July 8 and August 6th.  The initial rally off the pattern hit resistance at the downward sloping reaction line. The market paused at the reaction line and has formed a potential bullish swing pattern that could trigger a strong buy, if confirmed. A trade above  1.0710 is needed to confirm the pattern and set up a test of the prior high at 1.0904. View the charts with projections at www.reversaltracker.com/blog