Elliottwave Analysis: USDJPY, Sell at market

Yue Wang LinoCapital

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

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Author

Yue Wang

LinoCapital

Master's Degree in Hepatobiliary Surgery. 

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