Sell around 111.94 | 26 April 2017

26 April 2017, USD/JPY

Sell around 111.94

Wave Analysis:

The corrective wave (b) continues to correct higher but should not go beyond the daily resistance line 111.945. This level acted as our sell place earlier this month and now that the price is approaching it, we're preparing to short USDJPY for long term towards our previous target at 100.540. Only a clear breakout above this line will call for long positions but until then, we're reluctant to buy this pair. Either we're flat, or we're looking for potential short positions. Expect a similar wave count in CADJPY, AUDJPY and NZDJPY. These pairs will have a similar wave count during this intraday.

Trade Recommendations:

Sell US Dollar around 111.94 with an ideal target at 100.54.

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