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Wait for potential long term short position around 108.344

Wait for potential long term short position around 108.344 | 13 April 2018

13 April 2018, USD/JPY

Wait for potential long term short position around 108.344

Wave Analysis

During the previous trading day, the corrective wave (iv) extended to the upper side perfectly as previously forecasted but is still below the weekly resistance zone 108.344-108.015, as long as this zone is not violated massively to the upper side with a big green candle, we expect a possible rebound from it pick a short position. Ideally, we expect a possible extension of the corrective wave (iv) to the upper side but should not go beyond 108.015-108-344 where we'll be looking to both the impulsive waves (v) and (c) to the lower side with an ultimate target at 101.008.

Trade Recommendations:

Wait for potential long term short position around 108.344 towards 101.008

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Bob Stan
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