USDJPY Elliot Waves Analysis For 17 August 2016 | 17 Agosto 2016

17 Agosto 2016, USD/JPY

Wave Analysis

USD/JPY is currently trading with a slight bullish bias. Yesterday, the pair broke below it's rectangular formation, headed short but is currently retracing towards a key level 100.71. We are waiting for the current corrective wave (b) to end around 100.91-100.71, then we'll sell wave (c) towards 99.033. Ideally, we consider the current upward rally to be a mere retracement and should not go beyond 100.91 from where will be looking for long risk sell opportunities. This pair should be traded alongside CAD/JPY, NZD/JPY and AUD/JPY. These pairs have a strong positive correlation of up to +0.93 and will have a similar price action during this intraday.

Trade Recommendations:

Wait for a clear rebound from 100.71-100.91 to go short with an ideal target at 99.033.

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.
manager photo manager photo
Online-support
Nos complacerá contestar cualquier pregunta que pueda tener

Escribir

Get bonus