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Remain short with your target at 100.986

Remain short with your target at 100.986 | 03 April 2018

03 April 2018, USD/JPY

Remain short with your target at 100.986

Wave Analysis:

Since 2014 until now, the US Dollar has lost almost 50% the value it gained during the previous impulsive five wave cycle (Marked in red). This five wave cycle traded massively to the upper side but could not go beyond the weekly resistance 125.715. We expect the level 125.715 to have marked the end of the last impulsive wave (v) that the current bearish price rally is the unfolding of a flat bearish correction, but should not go beyond the weekly support zone 100.966-99.952. The anticipated bearish continuation is merely the continuation of the impulsive wave (c), and should not break below 99.952, if this target is broken, then a sharp decline towards 77.350.

Trade Recommendations:

Remain short with your target at 100.986

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Bob Stan
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