$USDJPY (8.5.2013)

Pair is showing 5 swings down from 99.95 peak which makes 99.17 the connector. While below 99.17, expect a test of 97.55 – 97.85 zone to complete wave (( a )) before a corrective pull back in wave (( b )) and lower again. In the unlikely event 99.17 breaks before pair makes a new low below 98.25, we would still expect recovery to remain capped between 99.30 – 99.50 zone and pair to turn lower again

Back

Subscribe to our Forex Blog

First Name: *
Last Name: *
Your Email Address: *