USD/JPY Signal April 18, 2012

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By: Fadi Steitie

Currency: USD/JPY
Trend Expected Direction: Down.
Method: Elliott Waves and Fibonacci Trading.
Description: A flat correction just ended at 81.5 at 2.618 Fib level in a position of wave (iv) near 0.382 of from the larger second cycle. Price shouldn't exceed 81.5. Wave (v) is on the way to unfold targeting 80.00. Japanese Merchandise Trade Balance is expected to increase from 29.4B to 223.2B which might also pull the pair down to 80.00 level. I already short the pair targeting wave (v).
Trend Expected Direction: Down.
Recommendation: Sell
Target Area: 80.00
Stop Loss: 82.00

USD/JPY Signal 41812

Fadi Steitie is an entrepreneur, investor and professional Forex trader who shares Forex signals based on his keen understanding of the market. Fadi is an expert in Elliott wav principles and Ichimoku Kinko Hyo, and he is a managing partner in one of the leading organizations in protective coating in the Gulf region.

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