Resell the US dollar at 107.709 | 21 Marzo 2018
21 Marzo 2018, USD/JPY
Wave Analysis:
Since the begining of this week, this pair has been in a corective mode despite the prevuious forecast that it could drop towards 100.00. Today and in the next few days, we expect further correction to the upperside but should not go beyond the 4 hour resistance level 107.709 where we'll be looking to resel the impulsive wave (5) to the lowerside with an ultimate target at 100.00. This pair should be traded alongside CADJPY, NZDJPY, CHFJPY and AUDJPY. These pairs have a strong positive correlation of up to +62% and will move in the same direction today.
Trade Recommendations:
Resell the US dollar at 107.709 towards 100.00
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
