USDJPY Elliot Waves Analysis For 17 December 2015 | 17 December 2015
17 December 2015, USD/JPY
Wave Analysis:
USDJPY is currently trading with a bullish bias. The pair traded perfectly long as previously forecasted and ended up closing within its previous significant zone 122.24 and 123.65. Since USD/JPY is strongly negatively correlated to Pound and Euro, as long as Euro and Pound are short, we are long in USD/JPY, with targets above 122.83. These pairs move exactly opposite one another, they have a strong negative correlation of up to -0.85.
Trade Recommendation.
As long as the pair trades above 122.24, look for long positions with ultimate targets along or above 123.65
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
