USDJPY – Down Wave Analysis USD/JPY is currently trading with a declining upward momentum. This pair continues to trade within the rising triangular formation but with a declining upward momentum. We are waiting for a clear breakout below the trend line forming hypotenuse of the triangle to go short. A clear breakout above 100.91 will culminate into a possible upward momentum towards 102.44 or even higher. This pair should be traded alongside NZD/JPY, CAD/JPY, and AUD/JPY. These pairs have a strong positive correlation of up to +0.90 and will have a similar price action during this intraday. Trade Recommendations: Wait for a clear breakout below the trend line then go short with an ideal target at 99.03. Buy positions are only recommended above 100.91 with an ideal target at 102.44.
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.
