USDJPY Elliot Waves Analysis For 28 June 2016 | 28 Juni 2016
28 Juni 2016, USD/JPY
Wave Analysis:
USD/JPY is currently trading with a bearish bias. Yesterday, this pair broke below it's consolidation zone 102.3-102.6 and is currently trading below a key level 102.06. This pair is still pretty much bearish and as long as its trading below 102.3-102.0, we expect an acceleration to the lower side but should not go beyond 99.06. This pair should be traded alongside EUR/JPY, USD/CAD, and USD/CHF. These pairs have a strong positive correlation and will have a similar price action during this intraday.
Trade Recommendations:
Remain short with your ultimate target at 99.06
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.
