13 April 2018, USD/JPY
Wave Analysis
During the previous trading day, the corrective wave (iv) extended to the upper side perfectly as previously forecasted but is still below the weekly resistance zone 108.344-108.015, as long as this zone is not violated massively to the upper side with a big green candle, we expect a possible rebound from it pick a short position. Ideally, we expect a possible extension of the corrective wave (iv) to the upper side but should not go beyond 108.015-108-344 where we'll be looking to both the impulsive waves (v) and (c) to the lower side with an ultimate target at 101.008.
Trade Recommendations:
Wait for potential long term short position around 108.344 towards 101.008
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