USDJPY Elliot Waves Analysis For 6 April 2016 | 06 Abril 2016

06 Abril 2016, USD/JPY

USDJPY Elliot Waves Analysis For 6 April 2016

Wave Analysis:

USDJPY is currently trading with a bearish bias. We expect the level 110.51 to have marked the end of wave (4), that the current downward rally is the unfolding of wave (5) with a target below 109.8. In the meantime, we remain short but only up to 109.8, a clear break below this support level will push the price further to the lower side with an ultimate target at 105.39. This pair should be traded alongside GBP/JPY and AUD/JPY. These pairs have a strong positive correlation of up to +0.90 and will likely have a similar price action during this intraday. Only buy or sell usd/jpy is giving the same signal as others.

Trade Recommendations:
Remain short with your ideal target at 109.8. A break below this level will push the price further to the lower side. Only buy if the pair break above the descending trendline and above 110.53
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.