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Wait for corrections | 11 September 2017

11 September 2017, USD/JPY

Wait for corrections
Wave Analysis:
After a clear break below 110.72, and a pullback to this level, the Us Dollar picked a momentum to the lower side and is still very bearish both on the lower and the higher time frames. During this intraday, we expect a possible continuation of this bearish price rally towards 102.68 and could break even lower. The anticipated bearish price is the continuation of the impulsive wave (c) but should not break below 100.00. This pair will have a similar price action to USDJPY, CADJPY, NZDJPY, and CHFJPY. These pairs have a strong positively correlation of up to +68% and will have a similar price action during this intraday.
Trade Recommendations:
Remain short with the first target at 102.68

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Bob Stan
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