Long now with your target at 118.00 | 11 December 2017
11 December 2017, USD/JPY
Wave Analysis:
During the previous trading day, the impulsive wave (c) stretched higher as expected and even went above the upper resistance trend line. This is a bullish dominance signal and as long as the price remains above this zone, we expect a possible bullish price movements towards 118.00 or even higher. This upward rally is highly anticipated since last week's candle is a perfect bullish continuation candle ans means the price could spike higher but should not go beyond 118.00. This pair should be traded alongside CADJPY, CHFJPY, NZDJPY, and GBPJPY. These pairs have a strong positive correlation and will move in the same direction today.
Trade Recommendations:
Long now with your target at 118.42
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.
