FOREX Prediction, 2020–06–11 Thursday

USDJPY:

The market has just given a strong signal to SELL. Let’s take a look D1 Chart for market perspective.

The market has just broken DOWN Support 107.8, which means the higher degree UP wave (started in 2020–05–06) likely ended in 2020–06–05. Time to SELL!.

A wave that consists of 3 sub-waves does NOT have to demonstrate a Fibonacci Ratio, according to Generalized Wave Theory.

If I decompose DOWN Wave 1 in H1 or M30 Chart, no Fibonacci Ratio nor distinct local min/maxes are visible. That usually means the market is in the middle of formation and will continue to unfold.

Final Thoughts on USDJPY:

• SELL NOW with STOP-LOSS at 110.00 and TAKE-PROFIT at least 101.00.
• If you think STOP-LOSS is too high, wait the market to retrace (to a local max ) in H1 Chart, then SELL. The trade-off is that you might miss a train by waiting.

EURUSD:

The same as the previous prediction.

GBPUSD:

The same as the previous prediction.

NZDUSD and USDCAD:

Nothing interesting, no Fibonacci Ratio found.