US Dollar continues to sustain the break below 111.78 | 28 March 2017

28 March 2017, USD/JPY

US Dollar continues to sustain the break below 111.78

Wave Analysis:

As previously forecasted, the corrective inner wave (ii) could not go beyond 111.78. As long as the price remains below 111.78, we expect a possible bearish price movements towards 108.94 or even lower. The anticipated downward rally is the continuation of the impulsive wave (iii) and should be extensive wave in nature. This downward rally is highly anticipated since other positively correlated pairs such as CADJPY, and NZDJPY, equally broke below key levels and will head further to the lowerside. As long as these pairs remains bearish, we choose to remain short in USDJPY. These pairs have a strong positive correlation of up to +85% and will move in the same direction during this intraday.
Trade Recommendations:

Remain short with an ideal target at 108.

Trade the Markets Online with us on March 29!

FreshForex cancels commissions!

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