we're long with an ideal target at 114.00. | 06 اكتوبر 2017

Wave Analysis:

Few days ago, Usd pullback towards the support zone 112.290 thrice but could not extend below it. We expect this downward moments to have been mere corrections of the impulsive wave (3), that the current bullish price movements is the continuation of the impulsive wave (3) to the upper side but should not go beyond 114.00. If the price rise above 114.00, then the price could rise even further towards 121.00. This pair will have a similar price action to CADJPY, AUDJPY, NZDJPY, CHFJPY and HKDJPY. These pairs have a strong positive correlation and will move in the same direction during this intraday. Only buy or sell Usdjpy if the other pairs are giving the same signal.

Trade Recommendations:

we're long with an ideal target at 114.00.