25 августа 2017, USD/JPY
Wave Analysis
Instead of continuing short as previously expected, the Us Dollar continues to consolidate above 18.40 but is still bearish on the daily charts. During this intraday, we still expect a possible rally to the lower side towards 108.40 ad could break below. Should this support be broken, then we'll wait for the next break below 107.85 to give us the green light to continue short towards 100.00. This is from bearish perspective, however, if the price breaks above 111.79, and then above 114.85, then this will lead to rally upwards towards 118.25. This pair will have a similar price action with CADJPY, NZDJPY, AUDJPY and CHFJPY. These pairs will have a similar price action during this intraday.
Trade Recommedantion:
Remain short towards 108.41
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