We're short | 19 Marzo 2018

Wave Analysis:

For almost a month now, no significant move has been seen on this pair. The corrective wave (iv) continues to consolidate somewhere around 105.60-107.50, this pair should trade with an increasing bearish bias this week, and even in the coming few weeks. The anticipated bearish price rally is the continuation of both the impulsive wave (v) and (c) to the lower side but should not go beyond the weekly support seen at 101.01. This pair should be traded alongside CADJPY, CHFJPY, NZDJPY and AUDJPY. These pairs have a strong positive correlation and will move in the same direction today.

Trade Recommendations:

We're short with an ultimate target at 101.01