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We're long with an ultimate TP at 114.81

We're long with an ultimate TP at 114.81 | 21 September 2017

21 September 2017, USD/JPY

We're long with an ultimate TP at 114.81

Wave Analsysi:

The US Dollar is currently trading with an increasing bullish bias. As long as the daily support level 110.72 shields the lower side, we expect this level to act as a support to any movements to the lower side, thus, if the price can pullback to the same level, then this will be the best place to pick a low risk buy opportunity towards 114.81. That said, during this intraday, we expect a possible bullish bias momentum towards 114.81 or even a break above it. If you're a bit skeptic to long this pair, you could wait and buy it on a breakout above 114.81 or on a pullback towards 110.72. This pair should be traded alongside CADJPY, AUDJPY, NZDJPY, and CHFJPY. These pairs have strong positive correlation of up to +72% and will move in the same direction during this intraday.

Trade Recommendations:

Remain long with an ultimate target at 114.81.

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Bob Stan
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