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16 April 2018, USD/JPY

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Wave Analysis

During the previous trading week, the US dollar continues to gain value despite the previous forecast that it could decline in the value. The Friday's candle was a perfect bearish pin bar candle and could indicates a possible sellers come into this market. Thus, we expect the level 107.792 to have marked the end of the corrective wave (iv) that any clear move to the lowerside will be the continuation of both the impulsive waves (v) and (c) to the lowerside and should extend beyond the 101.008 towards the 98.490 handle.

Trade Recommendations:

Look for short positions now towards 101.008

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Graham Osano
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