USDJPY still to gain more grounds | 29 Agosto 2016

29 Agosto 2016, USD/JPY

USDJPY still to gain more grounds

Wave Analysis

Yesterday, the pair broke perfectly above the contracting triangular pattern and is still pretty much bullish. We wait for minor corrections of the just witnessed impulsive rally to give us low risk buy opportunities with an ideal target at $103.74. Expect a similar corrective wave in other positively correlated pairs such as NZD/JPY and CAD/JPY, once the corrective wave is done in USD/JPY, go long in all the other pairs with targets at $74.32 and $99.19 respectively. These pairs have a strong positive correlation of up to +0.86 and will have a similar price action during this intraday.

Trade Recommendations:
Wait for minor correction to the lower side to go long with an ideal target at $103.74.
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