Log in

USDJPY Technical Analysis For 18th November 2015

18 November 2015, USD/JPY

USDJPY Technical Analysis For 18th November 2015
Wave Analysis:
USDJPY is currently trading with a bullish bias. The pair wave (5) went long as previously forecasted but could not close above wave (4). We are waiting for a very minor corrective move towards 123.13 before we continue long with wave (5). Traders trading this pair should observe other pairs such as HKD/JPY, GBP/JPY and CAD/JPY. Therefore, only buy or sell USDJPY if all the other positively correlated pairs are giving the same signal.

Trade Recommendations:

If you haven't bought the pair already, wait for a minor pullback to 123.13, or even to the red trend line, then go long with targets at 124.56, and the next at 125.25

Graham Osano
See also:
Agree with the review?
Traders' opinion:

Do you have any suggestions to make our website better? Have you noticed an error on the site? Tell us

Tell us

Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with rendering Personal area. How to enable cookie support.