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Looking for a clear sell signals to go short towards 113.68

Looking for a clear sell signals to go short towards 113.68 | 14 March 2017

14 March 2017, USD/JPY

Looking for a clear sell signals to go short towards 113.68

Wave Analysis:

Yesterday, despite the bearish engulfing candle seen around 04:00, the US Dollar dropped slightly to the lower side but has currently retraced back to the retracement level from where this engulfing opened, 114.86. Although we further bearish acceleration of the impulsive wave (c) towards 113.68, we choose to sit on the sidelines and only execute sell orders upon a clear break below 114.61. This view can only be rendered futile in case the pair end up above 114.88, if this is case, then we expect a possible bullish momentum towards 118.00. Expect a similar wave count in USDCHF, and USDJPY. These pairs will have a similar price action during this intraday.

Trade Recommendations:

Wait for a clear sell signals around 114.8 to go short with an ideal target at 113.68.

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Bob Stan
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