USD/JPY Wave analysis and forecast for 11.04 – 18.04: Downtrend n the pair has resumed. A chance of local “bullish” correction. Estimated pivot point is at the level of 104.10.
For Detail Analysis, Trading Signals and Complete Forex Training In Urdu Call Us +92-300-6561240, Or Visit http://www.pakeagle.com.pk
Our opinion: In the short-term: buy the pair above the level of 101.30 with the target of 102.40. In the medium-term: wait for the completion of upward correction and sell the pair after the formation of reversal with the target of 99.40.
Alternative scenario: The rise in price above the level of 104.10 will enable the price to continue growth to the levels of 105.0 – 106.0.
Analysis: Presumably ascending correction as the wave B, which took a shape of a plain, has completed. At the moment it seems that the first wave of the new bearish trend in wave C has completed. Locally, it is possible that bullish correction will start to develop in the second wave to the levels of 102.40 – 102.70.
