USD/JPY: wave analysis
13 September 2017, 08:44
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 110.07 |
| Take Profit | 108.80 |
| Stop Loss | 110.70 |
| Key Levels | 108.80, 110.45, 112.29 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 110.50 |
| Take Profit | 112.29 |
| Stop Loss | 109.90 |
| Key Levels | 108.80, 110.45, 112.29 |
The fall of the pair within the correction is expected.
The downward correction of the higher level as a wave В has formed. At the moment the entering momentum has formed as a first wave of the lower level (i) of i within the wave С. If the assumption is correct, the pair will fall to the level of 108.80 within the correction. The level of 110.45 is critical for this scenario.
Main scenario
Short positions can be opened below the level of 110.45 with the target at 108.80.
Alternative scenario
The breakout and the consolidation of the price above the level of 110.45 will let the pair grow to the level of 112.29.
The downward correction of the higher level as a wave В has formed. At the moment the entering momentum has formed as a first wave of the lower level (i) of i within the wave С. If the assumption is correct, the pair will fall to the level of 108.80 within the correction. The level of 110.45 is critical for this scenario.
Main scenario
Short positions can be opened below the level of 110.45 with the target at 108.80.
Alternative scenario
The breakout and the consolidation of the price above the level of 110.45 will let the pair grow to the level of 112.29.
No comments:
Write comments