Elliottwave Analysis: USDJPY, Sell at market
|USDJPY still consolidated in the triangle.
According to my own trend following system, we have weekly sell signal, but still in buy mode on daily chat, overall neutral bias.
From an Elliottwave perspective, an ABC correction toward 111.06 is still likely.
On big picture, we could not rule out the slowly right shoulder building progress.
We'll try a tactical short here and look to add or reduce when the trend confirmed.
USDJPY Trade Idea: (Spot 113.42)
Sell @ market SL 114.80 Take Profit @ 111.10
Click on the image to enlarge
We provide Daily FX Report, Trade Copy, Email Alert and MT4 EA Rental. Free trial and 30 Days Money Back policy will be valid forever! All the services could be Free
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.