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12.06.201822:56 Forex Analysis & Reviews: Overview of USD / JPY for the week of June 12 on simplified wave analysis

Long-term review
This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Wave picture of the chart H4:

The direction of the trend is set by the bullish wave of February 16. The wave has the wrong kind of structure. The preliminary target zone lies in 4 figures above the current rate.

Exchange Rates 12.06.2018 analysis

The wave pattern of the graph H1:

The descending section of May 21 forms the final part (C) of the hidden correction. After its completion, the price rise will continue.

Exchange Rates 12.06.2018 analysis

The wave pattern of the M15 chart:

The upward wave of May 29 does not have a reversal potential. The first part (A) is nearing completion, followed by a decrease in correction (B).

Exchange Rates 12.06.2018 analysis

Recommended trading strategy:

The sales potential is limited. They can be used in intraday and interday trade. For larger scales of trade before purchases, it is necessary to wait for the completion of the entire bearish wave.

Resistance zones:

- 110.90 / 111.40

Support zones:

- 109.30 / 108.80

- 107.80 / 107.30

Explanations to the figures: In a simplified wave analysis, waves consisting of 3 parts (A-B-C) are used. In the analysis, 3 main TFs participate, on each one the last incomplete wave is analyzed. Zones show the calculated areas with the greatest probability of a turn.

Arrows indicate the wave counting according to the technique used by the author. The solid background shows the generated structure, the dotted - the expected movements.

Attention: The wave algorithm does not take into account the duration of the tool movements in time. To conduct a trade transaction, you need confirmation signals from your trading systems!

Isabel Clark
Analytical expert of InstaForex
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