Buy USD/JPY alongside NZD/JPY | 02 Setembro 2016

02 Setembro 2016, USD/JPY

Buy USD/JPY alongside NZD/JPY

Wave Analysis

As previously forecasted the impulsive wave 3 extended to the upper side but could not go beyond 103.85. Following its correction towards 103.14. We expect to buy the impulsive wave 5 towards 104.36 or even higher. This upward rally is highly anticipated since the other positively correllated pairs such as NZD/JPY and CAD/JPY are pretty much bullish and will head futher to the upperside. A key resistance level can be seen around 105.25 and 105.69 while support levels can be seen at 102.93 and 102.27.

Trade Recommedations:

We are long with an ideal target at 104.38 and the next target at 105.25.

Bob Stan
Agree with the review?
Traders' opinion:
Close
Entrar
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with rendering Personal area. How to enable cookie support.