USDJPY – Down Wave Analysis USD/JPY is currently trading with a declining bullish bias. Earlier today, the pair gapped into our objective supply zone 100.91-100.73, Unless there is a clear breakout above 100.91, expect a possible rebound from this zone to go short with an ideal target at 99.03. A clear breakout above 100.91 may culminate into a possible bullish price rally towards 102.44 but should not go beyond 104.37. This pair should be traded alongside CAD/JPY, NZD/JPY and AUD/JPY. These pairs have a strong positive correlation of up to +0.92 and will; have a similar price action during this intraday. Trade Recommendations: Buy above 100.91 with an ideal target at 1002.44. A clear rebound from 100.73 will call for short positions with an ideal target at 99.03.
You may check other analytical reviews on the web-site of FreshForex company. Source: freshforex.com.
You may check other analytical reviews on the web-site of FreshForex company. Source: freshforex.com.
