SaxoTV

Coleman: 4th wave correction in USDJPY

314 views
July 09, 2015 coleman, coleman saxo tv, coleman traders tale, currencies, currency, currency markets, currency pair, currency pairs, currency trading, first 4 trading, foreign exchange, forex, forex idea, forex market, forex markets, forex saxo bank, forex selling, forex trade idea, forex trading, ian, ian coleman, ian coleman first 4 trading, ian coleman traders tale, iancoleman, japan, japanese yen, jpy, saxo, saxo bank, saxo bank forex, saxo bank group, saxo bank saxo tv, saxo bank trading, saxo bank trading floor, saxo bank tradingfloor.com, saxo bank tv, saxo capital markets, saxo traders, saxo trading, saxo tv, saxo tv saxo bank, saxo tv trades, saxo tv trading floor, saxo tv tradingfloor, saxo tv tradingfloor.com, saxobank, saxobank', saxobank.com, saxotrader, saxotv, trade, trade idea, trade ideas, trade view, trader, trader idea, traders, traders tale, traders tale ian coleman, traders tale saxo tv, trades, trading, trading currencies, trading floor, trading floor saxo tv, trading forex, trading forex 2015, trading fx, trading idea, trading platform, trading risks, trading strategy, tradingfloor, tradingfloor saxo bank, tradingfloor saxo tv, tradingfloor trades, tradingfloor.com, tradingfloor.com saxo tv, tradingfloor.com trade ideas, tradingfloorcom, united states, us dollar, usd, usdjpy, usdjpy currency, usdjpy trading
Ian Coleman from First 4 Trading is looking to sell USDJPY, which recovered overnight after trading at the lowest levels in seven weeks.

Coleman says that as the recovery happened from the 161% extension level of 129.34, it is seen as a 4th wave correction in a larger 5 wave bear sequence. The Marabuzo level is seen at 121.60 and the bespoke resistance level at 121.66, according to Coleman.

He is looking to sell USDJPY at 121.60 with targets at 121.10 and 120.50. His stop is stop at 121.90.