Flat | 07 February 2018

07 February 2018, USD/JPY

Flat

Wave Analysis:

Since few days ago, no significant move has been seen on this pair, the Us dollar is still rallying within a tight range, not going above 110.40 or below the 4 hour support level 108.50. As long as the price remains within this zone, we're only interested in trading reversals, if the price should break above 110.40, then we expect a possible bullish price movements towards 111.65, this pair should be traded alongside CADJPY, CHFJPY, NZDJPY and AUDJPY. These pairs have a strong positive correlation of up to +53% and will move in the same direction today. Only buy or sell the US Dollar if the other positively correlated pairs are giving the same signal.

Trade Recommendations:

Flat

FreshForex cancels commissions!

Bob Stan
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .