USDJPY – Down
wave Analysis
During the previous week, the US dollar rose significantly to the upper side but is still below the short term daily level 111.040. Unless there’s a clear breakout above this level, we expect a possible rebound from it to pick a short position. But should the price breakout above it, then this will be an opportunity to look for a long . The anticipated buy position will be the continuation of the impulsive wave (c) and may breakout above 114.00 but should not go beyond 118.00. Conservative traders should wait for a break above 111.040 to pick a buy position.
Trade Recommendations:
Buy the Us dollar above 111.040 towards 114.360
101% Double the volume
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