04 Tháng bảy 2017, USD/JPY
Wave Analysis:
Perfectly as previously forecasted, the corrective wave (iv) extended just slightly to the lower side but could not go below the support level 111.52. We expect the level 112.10 to have marked the end of this corrective wave count, that the current bullish price rally is the continuation of the motive wave (v) towards the daily resistance level 114.91. A breakout above this level will push the price upwards but should not go beyond 118.00. This view can only be rendered futile in case the price end up below 111.52, if this is the case, then a bearish acceleration towards 108.60 is inevitable. Expect a similar wave count in CHFJPY, AUDJPY and CADJPY. These pairs will have a similar price action today.
Trade Recommendations:
Expect a possible bullish price rally towards 114.91
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