21 June 2017, USD/JPY
Wave Analysis:
During the previous trading, the US Dollar barely hit our sell level 111.901 and is currently showing signs of moving to the lower side. As long as the level 111.901 is not violated, we expect a possible bearish price rally to the lower. The anticipated short position is the continuation of the impulsive wave (c) to the lower side but should not break below 109.095. A break below this level will push the price further to the lower side with an ultimate target at 105.173. Expect a similar wave count in USDCHF, AUDJPY, CHFJPY and HKDJPY. These pairs have a strong positive correlation of up to +80% and will have a similar price action during this intraday.
Trade Recommendations:
Expect a possible bearish price rally towards 105.173
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