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Remain short

Remain short | 27 February 2018

27 February 2018, USD/JPY

Remain short

Wave Analysis:

The US dollar is currently trading with an increasing bearish momentum. Perfectly as previously forecasted, the impulsive wave (5) continued to the lower side and is still pretty much bearish both on the daily and the weekly charts. Today and in the next few days we expect a possible extension of this impulsive wave (5) to the lower side and may break below 104.45 towards 100.00. This pair should be traded alongside CADJPY, NZDJPY, HKDJPY and CHFJPY. These pairs have a strong positive correlation of up to +52% and will move in the same direction today.

Trade Recommendations:

Remain short with your target still fixed at 104.45

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Bob Stan
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