Wave Analysis:
Perfectly as previously forecasted, the inner corrective wave (b) continues to move to the upper side but should not go beyond 1.2092 where we’ll be looking to sell the impulsive wave (c) at the least rise possible. This sell is just a corrective movement, thus if you’re a long term trader, you should not sell this trade, instead wait for the end of the entire corrective three wave cycle, then re-buy the impulsive wave (5) at the least rise with an ultimate target at 1.23. This pair should be traded alongside CADJPY, AUDJPY, USDCHF and USDJPY. These pairs have a strong positive correlation of up to +82% and will move in the same direction during this intraday.
Trade Recommendations:
Wait for the current corrections to end then buy this pair towards 1.23
