Bears coming soon | 27 October 2017

27 October 2017, USD/JPY

Bears coming soon

Wave analysis.

In the previous intraday, the USDJPY pulled back again to the upper trend line of the equidistant channel but ended up closing within this channel. We expect a rejection from this upper trend line and an extension of the impulsive wave (E) downwards towards the lower trend line of this channel. If price breaks above the upper trend line, this bearish price rally may be invalidated. Wait for a rejection from the upper trend line to short this pair towards 106.09.This pair should be traded alongside CADJPY, NZDJPY, AUDJPY and CHFJPY. These pairs have a strong positive correlation and will move in the same direction during this intraday.

Trade recommendation.

Sell USDJPY towards 106.09.

FreshForex cancels commissions!

Bob Stan
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus