Short the Us Dollar | 08 November 2017
08 November 2017, USD/JPY
Wave Analysis:
The Us Dollar continues to stagnant around the upper resistive trend line, despite our expectations that is could drop towards the lower trend line. As long as the price remains below this trend line, we expect a possible bearish acceleration towards 107.14 or even lower. the anticipated bearish price rally is merely the continuation of the impulsive wave (E) to the lower side and may breakout below 107.14 towards 106. This pair has a strong negative correlation to GBPUSD, NZDUSD and GBPAUD and will move in opposite directions today.
Trade Recommendations:
Short the Us Dollar now with your target at 107.16
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
