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Bulls expected to take control soon

13 October 2017, USD/JPY

Bulls expected to take control soon

Wave Analysis:

Even after the end of the corrective three wave cycle around 112.142 the Us Dollar is still reluctant to continue upwards. Now that the price has gone back to the end of the impulsive wave (c), we're expecting a possible buy around this zone, as long as the price is above it, we're looking for a possible buy signal with a target at 114.00. If the zone is broken, then the price could drop further towards 111. This pair should be traded alongside CADJPY, NZDJPY, AUDJPY, CHFJPY and HKDJPY. These pairs have a strong positive correlation and will move in the same direction today.

Trade Recommendations:

Buy this pair within 112.147-112.063 with your target at 114.00

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Graham Osano
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