Expect a possible bearish price rally towards 108 | 19 Diciembre 2017

19 Diciembre 2017, USD/JPY

Expect a possible bearish price rally towards 108

Wave Analysis:

The US Dollar is still pretty much within the descending wedge formation. As long as the price remains within this this wedge, we expect a possible bearish price rally towards 106.04 and could break even lower. Since the massive drop seen last week, no significant move has been seen this week, already, we're preparing for this drop especially if the price should correct itself upwards towards the upper resistive trend line. The anticipated bearish price rally is the continuation of the impulsive wave (c) to the lower side towards the lower trend line acting as the support to the descending wedge formation. This pair should be traded alongside CADJPY, NZDJPY, CHFJPY and AUDJPY. These pairs have a strong positive correlation and will move in the same direction today.

Trade Recommendations:

Expect a possible bearish price rally towards 108 but should not go beyond the lower trend line.

FreshForex cancels commissions!

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.