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Wait for a clear breakout below 101.92

Wait for a clear breakout below 101.92 | 15 September 2016

15 September 2016, USD/JPY

Wait for a clear breakout below 101.92
Wave Analysis:
This pair traded perfectly long as previously forecasted but ended up forming an indecision candle around 103.20, following the rebound from 103.20, we expect to continue short with the impulsive wave (c) towards 100.24. A clear breakout below this level may push the price further to the lower side but should not go beyond 99.04. This view can only be invalidated in case the pair end up rebound from 101.92.Trade this pair alongside CAD/JPY and NZD/JPY.

Trade Recommendations:

If you are not short already, wait for a clear breakout below 101.92 then go short with the first target at 100.24 and the next target at 99.04

Bob Stan
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