USD/JPY Technical Analysis For 15Th September 2015, H4
15 September 2015, USD/JPY
USD/JPY is currently trading with bearish. the pair hit our key level 124.64 before headinh short. It is anticipated that as long as the pair trades below 120.37, short positions are ideal but only up to 118.39, and the next stop at 116.126. Any movements below the second stop will signal further movements below.
Traders trading this pair should also observe other pairs such as NZD/JPY, HKD/JPY for positive correlation of up to +0.95. Only buy or sell USD/JPY is the other positively correlated pairs are giving the same signal.
If you haven't bought the pair already, wait for the current wave moving downwards to retrace back up to 120.24, then go short. Any movements above 120.50 will signal further movements above.
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