Flat | 18 October 2016

18 October 2016, USD/JPY

Flat

Wave Analysis:

The US Dollar continues to consolidate around the zone 103.7-104.1. Unless there's a clear breakout above or below this zone, we choose to sit on the side lines and wait for a clear direction. The current chart setup and structure is pretty much neural and chances of moving in either directions are pretty much equal. However, a clear breakout above the end of the 5th wave will signal a continuation of the upward trend while a break below 103.7 will mean a reversal to the lower side. This pair should be traded alongside usd/chf and eur/jpy. These pairs will have a similar price action during this intraday.

Trade Recommendations:

Remain flat for now.

Bob Stan
Agree with the review?
Traders' opinion:
Close
Log in
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 .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus