USD/JPY Signal- Nov. 16, 2012

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By: DailyForex.com

Currency: USD/JPY
Method: Elliott Waves
Description:Technically speaking, Divergence in RSI followed by 1.618 Fibonacci level at nearly 81.287 price point. I will target a falling correction to 0.382 Fibo at 80 level as a market reaction to wave five. I will trade only a small lots at this cycle due to its expected pattern risk.
Recommendation: Sell & Hold
Stop Loss: 82 for now
Target: 80

USDJPY Signal 111612

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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