Consolidation | 07 11月 2016

07 11月 2016, USD/JPY

Consolidation
Wave Analysis:
USD/JPY is currently consolidating with the contracting wedge. As long as this pair remains within this wedge, we choose to sit on the sidelines and only buy or sell depending on the direction of the breakout. A break above to the upper side will culminate into a possible bullish price movements towards 103.70 while a breakout below the wedge will lead to a possible bearish price movements towards 103.34. Although chances of breaking on the either sides are pretty much equal, the probability of breaking below the wedge is higher since the other negatively correlated pair Euro and GBP/USD are pretty much bullish and will head to the upper side.

Trade Recommendations:

Expect a possible breakout below the wedge to go short with an ideal target at $100.

Bob Stan
同意该评论吗?
交易员的评论:
Close
授权
您浏览器禁用cookie 文件. 在此情况下, 私人空间显示不正常. 如何启动cookie 文件的支持.
manager photo manager photo
Online-support
我们很高兴回答您的问题

提交申请

Get bonus