We're long with a target at 114.00 - 03 October 2017, USD/JPY

03 October 2017, USD/JPY

Wave Analysis:

Perfectly as previously forecasted, the impulsive wave (3) extended slightly to the upper side and is still showing signs of rising even further. During this intraday, we expect a possible extension of this impulsive wave count to the upper side but should not go beyond 114.00 by the end of this day. According to the current chart set up and structure, this pair is still pretty much and only buy positions can be recommended with a target at 114.00. In the mean, waiting for a minor bearish retracements towards 113.0 to buy this pair at the least risk possible. Expect a similar wave count in AUDJPY, NZDJPY, CHFJPY and CADJPY. These pairs have a strong positive correlation and will move in the same direction today.

Trade Recommendations:

We're long with a target at 114.00

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