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USDJPY : Pair Trading In A Correction

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Oct 27, 2015.

  1. Sandra S.

    Sandra S. Forum Member

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    USDJPY made a deeper pullback than we thought, but still in a corrective fashion. Notice that move away from 121.48 is a overlapping between two trendlines so it is likely a corrective move. We see a combination of two zigzags that also reached area of a former wave four, near 120.25. We also see some nice Fibonacci levels there that can react as a support. That said, a new bullish turn can be around the corner. Rally today out of a downward channel will put this market back in bullish mode for

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