USD/JPY: wave analysis
30 March 2018, 09:30
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 106.20 |
| Take Profit | 109.60, 110.83 |
| Stop Loss | 105.10 |
| Key Levels | 103.50, 104.54, 109.60, 110.83 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 104.50 |
| Take Profit | 103.50 |
| Stop Loss | 105.10 |
| Key Levels | 103.50, 104.54, 109.60, 110.83 |
The growth of the pair is expected.
On the 4-hour chart, the downward momentum has formed as a wave C within the correction of the higher level (B). Now the first entry wave of the lower level (i) within the wave (C) is forming. If the assumption is correct, the pair will grow to the levels of 109.60–110.83. The level of 104.54 is critical for this scenario.
Main scenario
Long positions will become relevant during the correction, above the level of 104.54 with the targets at 109.60–110.83.
Alternative scenario
The breakdown and the consolidation of the price below the level of 104.54 will let the pair go down to the level of 103.50.
On the 4-hour chart, the downward momentum has formed as a wave C within the correction of the higher level (B). Now the first entry wave of the lower level (i) within the wave (C) is forming. If the assumption is correct, the pair will grow to the levels of 109.60–110.83. The level of 104.54 is critical for this scenario.
Main scenario
Long positions will become relevant during the correction, above the level of 104.54 with the targets at 109.60–110.83.
Alternative scenario
The breakdown and the consolidation of the price below the level of 104.54 will let the pair go down to the level of 103.50.
No comments:
Write comments