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flat | 08 February 2018

08 February 2018, USD/JPY

flat

Wave Analysis:

So far, significant move has been seen on this pair, the Us dollar is still consolidating within a range, According to the current chart set and structure, its good to remain flat temporarily and only sell upon a rebound from the 4 hour resistance level 110.40, or buy on break above it. If you're a bit skeptic to sell on rebound from 110.40, you could wait and buy a break above 110.40 towards 111.30 or sell below 108.50. This pair should be traded alongside AUDJPY, NZDJPY, CHFJPY and NZDJPY. These pairs have a strong positive correlation of up to +53% and will move in the same direction today.

Trade Recommendations:

Flat

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