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  4. USD/JPY Signal April 18, 2012
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USD/JPY Signal April 18, 2012

By Fadi Steitie
Fadi Steitie
By 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.

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
About 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.

 

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