empty
 
 
21.11.2017 12:24 PM
Wave analysis of the USD / JPY currency pair for November 20, 2017

This image is no longer relevant

Analysis of wave counting:

The USD/JPY pair began with a dynamically developing downward during the Asian session on Friday. It lost almost 120 basis points and broke the level of the 112th figure at the end of the day. In this case, the wave pattern formed opens the possibility that the currency pair has practically completed the formation of wave c, in the 4th, in the waveform a, and in ( C ) taking the form of a complex five-wave structure.

Targets for a downward wave option:

111.96 - 88.6% Fibonacci retracement

Goals for the option with an upward wave:

115.00 - 117.00

General conclusions and trading recommendations:

The tool continues to build the uptrend section of the trend. Now the wave (C) is building up, and the construction of its internal wave c, at 4, in a, in (C) , with targets located near the calculated mark of 111.96, which corresponds to 88.6% of Fibonacci. It is expected that the increase in quotations within the wave 5 in a , in (C) with targets above 115 figures will resume after the completion of this wave.
Chin Zhao,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback