Bears coming soon | 27 اكتوبر 2017
27 اكتوبر 2017, USD/JPY
Wave analysis.
In the previous intraday, the USDJPY pulled back again to the upper trend line of the equidistant channel but ended up closing within this channel. We expect a rejection from this upper trend line and an extension of the impulsive wave (E) downwards towards the lower trend line of this channel. If price breaks above the upper trend line, this bearish price rally may be invalidated. Wait for a rejection from the upper trend line to short this pair towards 106.09.This pair should be traded alongside CADJPY, NZDJPY, AUDJPY and CHFJPY. These pairs have a strong positive correlation and will move in the same direction during this intraday.
Trade recommendation.
Sell USDJPY towards 106.09.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
