We're short | 06 Juni 2017
06 Juni 2017, USD/JPY
Wave Analysis:
As previously anticipated, the impulsive wave (c) extended lower and is still pretty much bearish both on the daily and the weekly charts During this intraday, we still expect further drop towards 100.44 and may extend even further. While we don't refute the possibility that the price could pullback slightly to the upper side, chances that the price could drop towards 100.4 are very high and should be expected. Expect a similar wave count in CADJPY, NZDJPY and CHFJPY. These pairs have a strong positive correlation of up to +85% and will move in the same direction during this intraday.Expect a possible bearish price rally towards 100.4
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.
