USDJPY Elliot Waves Analysis For 17 March 2016 | 17 tháng Ba 2016

17 tháng Ba 2016, USD/JPY

USDJPY Elliot Waves Analysis For 17 March 2016

Wave Analysis:

USD/JPY is currently trading with a strong bearish bias. Unfortunately our stop was knocked out, instead of the pair heading long as previously forecasted, it rebounded from 113.81, and is currently trading just above a key pivot level 112.43. Although we anticipated downward rally towards 111.100, we are waiting for a clear breakout below 112.06 to give us the green light to continue short with our target at 111.100. A clear rebound from 111.100 would mean looking for long positions with our target at 114.83. This pair should be traded alongside HKD/JPY, TRY/JPY, and EUR/NZD. These pairs have strong positive correlation of up to +0.88 and will likely have a similar chart setups. Only buy or sell usd/jpy if all the other positively correlated pairs are giving the same signal.

Trade recommendations:

If you are not short already, wait for a clear breakout below 112.06 go short with your target at 111.100. A clear rebound from 111.100 would mean looking for long positions with your target at 114.83.

Bob Stan
Đồng ý với đánh giá?
Ý kiến ​​của thương nhân:
Close
Đăng nhập
Trình duyệt của bạn không hỗ trợ cookie Nếu cookie đã bị vô hiệu trong trình duyệt Internet của bạn, bạn có thể gặp vấn đề với việc hiển thị Khu vực cá nhân. Cách bật hỗ trợ cookie .