07 July 2017, USD/JPY
Wave Analysis:
Perfectly as previously anticipated, earlier today, following the minor correction of the impulsive wave (v), this impulsive wave (v) extended higher but is yet to hit our target take profit. During this intraday, we still expect a possible extension of this impulsive wave to the upper side with our target still intact at the daily resistance level 114.91. A breakout above this level will push the price further upwards but should not go beyond 121.00. . Sell positions can only be recommended upon a clear rebound from 114.91 or below 112.10 and most importantly below 111.52. Expect a similar wave count in CHFJPY, EURJPY, CADJPY and NZDJPY. These pairs have a strong positive correlation of up to +71 % and will move in the same direction during this intraday.
Trade Recommendations:
Expect a possible bullish price rally towards 114.91
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