USDJPY Elliot Waves Analysis For 24 June 2016 | 24 June 2016
24 June 2016, USD/JPY
Wave Analysis
USD/JPY is currently trading with a strong bearish bias. Following the Brexit, most currencies moved unanimously to the lower side including the US dollar Yen. We expect a possible bearish momentum towards 99.02. Thus, during this intraday, we will only be keen to look for signals that give bearish confirmations. This pair should be traded alongside EUR/JPY, GBP/JPY and USD/CHF. These pairs have a strong positive correlation of up to +0.93 and will have a similar price action during this intraday.
Trade Recommendations:
Expect a possible downward momentum towards 99.01.
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.
