Home Forex Analysis And Forecasts USDJPY : Minor Correction Unfolding; More Upside Could Follow

USDJPY : Minor Correction Unfolding; More Upside Could Follow

USDJPY is one of the promising potential candidates for trading. After BOJ lowered its deposit rate in minus, investors are not encouraged to hold JPY. Initial reaction after the announcement is developing in a five wave-sequence but is still not complete. We expect a small pullback in blue wave iv only to go higher and complete black wave 3. For now our conviction for this pair is strong and we might consider idea to put long trade on this pair. Firstly, we want see what will happen on other USD based pairs to clarify correlation.

USDJPY, 1H

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Recent Comments