USDJPY Elliot Waves Analysis For 8 July 2016 | 08 Juli 2016
08 Juli 2016, USD/JPY
Wave Analysis:
USD/JPY is currently trading with a bearish bias. As previously forecasted, the pair traded short but could not close below the lower supportive trend line. During this intraday, we expect a possible breakout below this trend line to continue short with an ideal target at 99.00. This pair should be traded alongside GBP/JPY, EUR/JPY, and AUD/JPY. These pairs have a strong positive correlation of up to +0.86 and will have a similar price action during this intraday.
Trade Recommendations:
Expect a possible bearish price movements towards 99.00.
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.
