Sell usdjpy around 109.71 | 24 Agustus 2017

Wave Analysis:

Even after yesterday's free fall, the Us Dollar is showing signs it could recover the value it lost yesterday. We expect the upward rally being seen now to be a mere correction of the impulsive wave (5) and should not go beyond yesterday's opening price 109.506. Ideally, during this intraday, we still expect a possible extension of the impulsive wave (5) to the lower side with an ideal target at 108.322. If this level is broken, then price could fall further with the next target at 100.00. This pair will have a similar price action to CADJPY, NZDJPY, CHFJPY and AUDJPY. These pairs will have a similar price action during this intraday. Only buy or sell usdjpy if the other positively correlated pairs are giving the same signal.

Trade Signal.

Sell usd jpy around 109.71 with an ideal target at 108.322.