Remain long towards 114.00 | 02 October 2017
02 October 2017, USD/JPY
Wave Analysis:
after going beyond 112.90, the impulsive wave (3) extended slightly to the upper side before correcting itself downwards again. Now that the price is above 112.90, we expect this level to act as a support to any moments to the lower side, thus, as long as this level is not violated, we expect a possible buy from this level. The anticipated buy position is the continuation of the impulsive wave (3) to the upper side bu should not go beyond 114.00. This pair should be traded alongside USDCHF, CADJPY, NZDJPY and CHFJPY. These pairs have a strong positive correlation and will move in the same direction during this intraday.
Trade Recommendations:
Remain long towards 114.00
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.
