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Remain short

Remain short | 28 March 2018

28 March 2018, USD/JPY

Remain short

Wave Analysis:

After a massive bullish correction, the US Dollar could not go beyond the daily key level 101.810, as long as this level is not broken to the upper side, we expect a possible rebound from it, to pick a long position with an ultimate target at 100.00. The anticipated bearish price rally will be the continuation of the impulsive wave (5) to the lower side and should first break below 104.435 towards 100.00. This pair should be traded alongside CADJPY, HKDJPY, CHFJPY, AUDJPY, and NZDJPY. These pairs have a strong positive correlation of up to +63% and will move in the same direction today.

Trade Recommendations:

Remain short with your target at 100.00

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Bob Stan
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