Bullish pin bar candle on the daily chart | 29 June 2017

29 June 2017, USD/JPY

Bullish pin bar candle on the daily chart

Wave Analysis

During the previous trading day, US dollar opened at 112.32, went as low as111.82 and as high as 112.41 but ended up closing at 112.29 just a few pips below its opening price. The previous day's candle is a perfect bullish pin bar closing above a key level 112.10. We expect a possible extension of the impulsive wave (iii) and a correction, that is wave (iv), to buy the impulsive wave (v) towards 114.91. Expect a similar wave count in CHFJPY and AUDJPY and CADJPY. These pairs have a strong positive correlation and will move in the same direction.

Trade Recommendations:

Expect a possible bullish price rally with an ideal target at 114.91.

FreshForex cancels commissions!

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 .