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Watch for a potential sell around 110.157

Watch for a potential sell around 110.157 | 03 May 2018

03 May 2018, USD/JPY

Watch for a potential sell around 110.157

Wave Analysis

During the previous trading day, the US dollar barely made significant moves to our previously anticipated level 110.157, and is still pretty much below this level, as long as the price remains below this level, we expect a clear rebound from this level to pick a long term short position with our first target at 108.790 and the next target at 107.743. This means that a rebound from 110.157, will mark and end of the impulsive wave (5) and the beginning of a corrective three wave cycle but should not go beyond the daily support level 107.743.

Trade Recommendations:

Wait for a sell around 110.157

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Bob Stan
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