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Expect usd/jpy to trade on the lower ranges.

07 September 2016, USD/JPY

Wave Analysis:
Instead of going long as previously forecasted, the impulsive wave 5 ended abit earlier than expected and could not go beyond the end of the impulsive wave 3. This is a clear indication that the bulls no longer have control and that the sellers are in full control. We expect to continue to the lowerside during this intraday, but should not go beyond 99.85. Expect a similar truncated 5th wave on other positively correlated pairs such as NZD/JPY and CAD/JPY. Only buy or sell Usd/jpy if the other pairs are giving you the same signal.

Trade Recommendations:

Remain short with an ideal target at 99.085

Graham Osano
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