Expect an acceleration to the upper side | 09 Septiembre 2016

09 Septiembre 2016, USD/JPY

Expect an acceleration to the upper side
Wave Analysis
Unfortunately, our stop got hit when the pair broke above a key supply level 101.92, we expect the just broken supply level to act as a demand level to the current downward rally. Thus, instead of going short, we sit on the sidelines and wait for a clear rebound from 101.92 to go long with an ideal target at 103.27. A rebound from 101.92 is highly likely since this level was used as a demand level 30th August 2016, and may act as a strong demand level during this intraday. Expect a similar chart structure and set up in other pairs such as CAD/JPY and NZD/JPY. These pairs have a strong positive correlation of up to +0.90 and will have a similar price action during this intraday.

Trade Recommendations:

Wait for a clear rebound from 101.92 to go long with an ideal target at 103.27

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