Bears preparing to take control | 25 Mei 2017
25 Mei 2017, USD/JPY
Wave Analysis:
For almost a week now, the US Dollar has been correcting upwards but should not extend above 111.94. We expect this level to have marked the end of any corrections to the upper side that the downward rally that began yesterday is the continuation of the impulsive wave (c) to the lower side but should not close below 104.00. This pair should be traded alongside CADJPY, AUDJPY, CHFJPY and HKDJPY. These pairs have a strong positive correlation of up to +71% and will move in the same direction during this intraday.Expect a possible bearish price rally towards 104.00
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.
