manager photo
Online Assistant
We will be pleased to answer any questions you may have
Write Call
Log in

Possible bullish momentum developing

14 October 2016, USD/JPY

Possible bullish momentum developing

Wave Analysis

This pair is currently trading with an increasing upward momentum. Following the breakout above the resistance level $104.01, we expect a possible bullish price movements towards 106.15 or even higher to $106.52. Ideally, as long as the pair trades above $104.01, we expect this level to act as a support to any downward movements, a clear breakout below $103.80 will lead to an acceleration to the lower side but should not go beyond $101.78, a clear breakout below this target will push the price further to the lower side. This pair will have a similar price action with USD/CHF and EUR/JPY.

Trade Recommendations:

Remain long with the first target at $106.15. and the next target at $106.52

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

We are constantly improving our website quality. If you have any suggestions on how to make our website better or noticed an error on the website, please tell us

Tell us

Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .