USD/JPY Signal- May 3, 2012

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By: Fadi Steitie

Currency: USD/JPY
Trend Expected Direction: Up
Method: Elliott Waves and Fibonacci Levels
Description: Within flat correction start forming earlier on 11th of April 2012 at price 80.560 up to 81.760 down to 79.680 and now to its end wave (C) in a diagonal form up again targeting 81.00 level 1 and will be bouncing up and down until it complete wave (C) before it correct itself for a fresh move. I suggest traders to buy and hold currency for further progress in its last diagonal wave.
Recommendation: Buy and hold
Target Area: 81.00
Stop Loss: 79.50

USDJPY Signal 5312

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.

In addition to sharing his trades as a member of the DailyForex trading team, Fadi is an expert trader on eToro, a social platform that allows traders to copy experts quickly and easily. Copy Fadi's trades on eToro here.