Remain long | 05 February 2018
05 February 2018, USD/JPY
Wave Analysis:
Perfectly as previously forecasted, the US Dollar bounced of from the support zone 108.57-108.09, and is currently heading to the upper side. As long as this zone protect he lower side, we expect a possible extension of the impulsive wave (c) to the upper side should not go beyond 115.07. Only break above 115.07 will call for further momentum to the upper side. This pair should be traded alongside CADJPY, CHFJPY, NZDJPY and AUDJPY. These pairs have a strong positive correlation of up to +55% and will move in the same direction today. Only buy or sell Us dollar if the other positively correlated pairs are giving the same signal.
Trade Recommendations:
Remain long towards 115.07
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.
