Elliott waves analysis – Buy the US Dollar above 111.560

USDJPY – Down

Wave Analysis

During the previous trading day, the US dollar rallied intensely to the upper side and is still pretty much bullish. the previous day’s candle was a perfect bullish pin bar candle, and could mean the price is headed to the upper side. Today and in the next few days, we expect a possible extension of the impulsive wave (c) to the upper side, but should first break above 111.560. If you’re not long already, you could wait for a break above 111.560, then pick a low risk long position with an ultimate target at 114.479.

Trade Recommendations:

Buy the US Dollar above 111.560 with a take profit at 114.479

101% Double the volume

!Attention!
All bonus participates in drawdown!

FreshForex cancels commissions!

You may check other analytical reviews on FreshForex website. Source: freshforex.com.