Short towards 106.596. | 17 April 2018
17 April 2018, USD/JPY
Wave Analysis
Recently, the Us Dollar attempted a break above 107.465 but ended up closing below it. This, 107.465 is a key level and as long as the price is below it, we expect a possible rally to the lower side but should not go beyond the daily support level 106.595 where we'll be looking to rebuy the last phase of the impulsive wave c to the upper side with our target at 111.721. This view can only be invalidated in case the price breaks below 106.596, this being the case, we'll expect a rally to the lower side towards 104.890.
Trade Recommendations:
Short towards 106.596.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
