USDJPY Elliot Waves Analysis For 11 July 2016 | 11 Julio 2016

11 Julio 2016, USD/JPY

USDJPY Elliot Waves Analysis For 11 July 2016
Wave Analysis:
USDJPY is currently trading with a bearish bias. During the previous trading day on 8th July 2016, usd/jpy traded short as previously forecasted but could not break below the supportive trend line. As long as the pair trades above this trend line, expect a possible bullish reversal from this trend line to go long with an ideal target 101.54. A breakout below this trend line will culminate into a momentum to the lower side but should not close below 99.00. This pair should be traded alongside GBP/JPY, AUD/JPY, and GBP/USD. These pairs have a strong positive correlation of up to +0.96 and will have a similar price action during this intraday.

Trade Recommendations:

As long as the pair trades above the trend line expect a possible bullish reversal to go long with an ideal target at 104.37. A breakout below the trend line will call for short positions with an ideal target at 99.00

Bob Stan
¿De acuerdo con la revisión?
Opinión de los comerciantes:
Close
Iniciar sesión
Su navegador no admite cookies. Si la cookie está desactivada en su navegador de Internet, es posible que tenga problemas con la representación del área Personal. Cómo habilitar el soporte para cookies.