Remain short towards 107.530. | 31 Januari 2019
31 Januari 2019, USD/JPY
Wave Analysis
We sold the impulsive wave (v) after the end of the corrective wave (iv) around 109.650. With this sell order, we expect further rally to the lowerside towards 108.578. If thus target is broken, then we expect a steep drop towards 106.680. Only a bounce from 108.579 will mean we're waiting for a sign that we're upwards. According to the chart above, we're still sellers but only up to 107.530, this is a weekly support level and should price break below it, then we're heading even lower towards the next key level 106.
Trade Recommendations:
Remain short towards 107.530.
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.
