We're short | 20 April 2017

20 April 2017, USD/JPY

We're short

Wave Analysis:

Yesterday, the corrective wave (iv) traded on the higher ranges but is still below our retracement line 109.03. Unless this line is clearly breached, we remain reluctant to execute buy orders, instead, we choose to sit on the sidelines and only hunt for short orders. The anticipated sell position is the continuation of the impulsive wave (v) and should not go beyond 100. Expect an exact similar wave count in CADJPY, NZDJPY, AUDJPY and HKDJPY. These pairs have a strong positive correlation of up to +86% and will move in the same directyion during this intraday. Only buy or sell US Dollar if the other positively correlated pairs are giving the same signal.

Trade Recommendations:

Expect a possible bearish price rally towards 100.

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