USD/JPY Signals - September 2, 2011

By: Fadi Steitie

USD/JPY Analysis, September 2, 2011

Currency: USD/JPY
Strategy:Elliott Wave principle
Signal: Buy once resistance line breaks.
Trade Description: Completion of flat correction. End of wave ii of c in a flat correction remaining three waves to go iii, iv, and v in order to complete.
Target: 77.600
Stop Loss:76.500
Duration: Open

Fadi Steitie

Fadi Steitie is an entrepreneur, investor and professional Forex trader who shares Forex signals with DailyForex.com based on his keen understanding of the market. His favorite pair is EUR/ USD because almost 40% of traders trade this pair and it does match most of his pattern recognition strategies. He is an expert in Elliot Wave principles as well as Ichimoku Kinko Hyu which he is currently researching. So far he has not seen many English translated books about this method of technical analysis, however he is continuing to read about it and believe this method has as much to give to traders like the Elliot Waves method does. Fadi is looking for the magic behind this principle even though many do not research this trading system.