Remain short | 26 Marzo 2018

Wave Analysis:

During the previous trading day, the impulsive wave (5) extended a bit lower than expected, and is still pretty much bearish both on the daily and the weekly charts. Today and in the next few days, we expect a possible extension of the impulsive wave (5) to the lowerside but only after a correction towards 109.38. If you're not already short, you could wait for this correction to pick a short position. Alternatively, you could wait for a break below 104.25 to confirm a possible rally towards 100.00. This pair should be traded alongside CADJPY, NZDJPY and AUDJPY. These pairs will have a similar price action today.

Trade Recommendations:

Remain short with an ideal target at 100.00