Elliott waves analysis – buy the US Dollar above 111.272

USDJPY – Down

buy the US Dollar above 111.272

Wave Analysis

After a bounce from the daily support level 108.719, the Us Dollar has been in a constant up trend and is still pretty much bullish both on the daily and the weekly charts. As long as the price remains above 108.719, we expect a possible rally to the upper side and should breakout above 111.068, before a move to the upper side is seen. If you’re not long already, you could wait for a break above 111.068 to confirm a possible rally to the upper side. the anticipated bullish price rally is the continuation of the impulsive wave (c) to the upper side but should not go beyond 114.272.

Trade Recommendations:

buy the US Dollar above 111.272

101% Double the volume

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