| Global Interest Rates | |||
 Australia |
7.25% | ||
 Canada |
3.5% | ||
 EMU |
4% | ||
 Japan |
0.5% | ||
 Swiss |
2.75% | ||
 England |
5% | ||
 US |
2.25% | ||
Technicals
USD/JPY Elliott Wave daily analysis - July 11
The chart shows the movement after 104.96. I think that the rise after this low was corrective in nature and developed as a double corrective combination which ended with a triangle. Todays sell-off signals that the recovery is already over and a more down for a low below 104.96 has begun. A key resistance is 61.8 % retracement of todays sell-off so I move the stop loss of my short position above it. From a short term point of view some correction could be seen before resuming of the down move but it will be probably limited to 106.25
Trading strategy: 11:13 EST; 16:13 GMT
Short position from 107.30 and the additions to if from 107.17 and from 106.65, move the stop loss from 107.70 to 106.75, target - open
Confidence level - high
This analysis has only informational
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