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Resell then US Dollar at 105.995

Resell then US Dollar at 105.995 | 27 March 2018

27 March 2018, USD/JPY

Resell then US Dollar at 105.995

Wave Analysis:

Since the beginning of the previous trading day, the US dollar has been in a constant upward move. We expect the 104.520 to have marked the end of the impulsive wave (5) that the current upward rally is the unfolding of a corrective three wave cycle and should not go beyond 105.995 which is a key level. At the moment, it's good to remain flat, and wait for a possible sell at 105.995. This pair should be traded alongside CADJPY, NZDJPY, AUDJPy and CHFJPY. These pairs have a strong positive correlation of up to +63% and will move in the same direction today.

Trade Recommendation:

Resell then US Dollar at 105.995 towards 100.00

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Bob Stan
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