Principal >
Datos analíticos de Forex
>
Pronóstico Fresco
>
Elliott waves for Forex correlation analysis
>
USDJPY Elliot Waves Analysis For 21 March 2016

USDJPY Elliot Waves Analysis For 21 March 2016 | 21 Marzo 2016

21 Marzo 2016, USD/JPY

USDJPY Elliot Waves Analysis For 21 March 2016

Wave Analysis:

USDJPY is currently trading with a slight bullish bias. We expect a break either above the rising wedge for us to go long with our targets at 112.61 and 114.09 or a break below the green trendline forming bottom of the falling wedge for us to go short with our target at 110.64. A break below 110.64 will mean we are headed further short with our target at 109.81. In another view, traders should be cautious about the level 111.68. This level is a significant level and can act as a short term supply level, thus look for possible reversals from this level and also from the level 112.06. This pair should be traded alongside NZD/JPY and GBP/JPY. These pairs have a strong positive correlation of up to +0.89 and will likely have a similar price action during this intraday. Only buy or sell usd/jpy if all the other positively correlated pairs are giving the same signal.

Trade Recommendations:
Expect a break either above the rising wedge for you to go long with your targets at 112.61 and 114.09 or a break below the wedge to go short with your target at 110.64. A break below 110.64 will mean looking for further short positions with with your target at 109.81.
Bob Stan
¿De acuerdo con la revisión?
Opinión de los comerciantes:
Close
Iniciar sesión

Mostrar contraseña

Ocultar contraseña

 ¿Se te olvidó tu contraseña?
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.

Nuestros mejores premios:

FreshForex is a brand that provides access to online trading for clients from more than 158 countries all over the world. The Company's partners are the licensed European liquidity providers, banks, payment aggregators and systems with which the company has been cooperating for more than 19 years.
Clients must be at least 18 years old to use the services of the Company.
The company's services and information on the site are not intended for citizens and residents of some countries, such as Belgium, China, North Korea, France, Hong Kong, Russian Federation, Spain, Great Britain, USA, and also countries identified by the FATF as high-risk countries or countries with serious AML/CFT deficiencies; countries or regions that are under international sanctions. A complete list is available on the "Countries where the company's services are not provided" page. The Company does not have representative offices in the Russian Federation and does not register clients from the Russian Federation.
Risk Warning: Trading financial instruments with leverage carries high risks and can result in both profits and losses. Potential losses are limited by the deposit amount. Before deciding to trade, the client should assess their risk tolerance, experience, and knowledge level.

Freshforex.com uses cookies for better website operation, traffic flow analysis, and personalization. By using this website you agree to our Cookie Policy.
User Data privacy is protected in accordance with GDPR. The SSL certificate installed on the website transfers the information over a secure protocol.
The site contains links to websites of third parties. The Company does not check or control the third-party resources that are in any way related to the FreshForex site, so the Company is not responsible for any third-party information or materials posted.
By creating a link to a third party website, the Company does not endorse or recommend any products or services offered by the third party.
The website content is intended for informational purposes only. It should not be regarded as an offer or solicitation to any person in any jurisdiction in which such an offer or solicitation is not authorized. It also should not be considered as an offer/solicitation to any person to whom it would be unlawful to make such an offer or solicitation, nor regarded as a recommendation to buy, sell or otherwise deal with any particular currency or any other trading asset investment. If you are not sure about your local trading regulations, please, leave this website immediately.
© 2004—2024 FreshForex – Forex broker
Reproduction of the contents is allowed only with active hyperlink to original source.