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Remain long

29 September 2016, USD/JPY

Remain long

Wave Analysis

Yesterday, usd/jpy rebounded perfectly from the support zone 100.24-100.07 but is yet to reach our target exit level along the immediate trend line. During this intraday, we expect further acceleration towards this trend line, any clear breakout above this trend line may push the price further to the upper side with the next target at 102.59. Trade this pair alongside EUR/JPY and USD/CHF. These pairs have a strong positive correlation and will have a similar price action during this intraday.

Trade Recommendations:

Remain long with an ultimate target at 100.59. Any clear breakout above this target may push the price further to the upper side.

Graham Osano
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