Expect a possible bullish price movements towards $106.20 | 25 October 2016

25 October 2016, USD/JPY

Expect a possible bullish price movements towards $106.20

Wave Analysis:

Instead of going short, the pair rallied to the upper side, broke above the resistance level $104.01 and is still very much bullish on the daily chart. We expect the just broken resistance level $104.01 to act as a support to any bearish price rally. Thus, as long as the level holds true as a strong support, we expect to continue long with an ideal target at $106.20. Only a clear breakout below this level may invalidate the anticipated upward rally and could lead to a possible bearish price movements towards $101.72 or even lower. Expect a similar price action in USD/CHF and EUR/JPY. These pairs will have a similar price action during this intraday.

Trade Recommendations:

Remain long with an ideal target at $106.20

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