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