Elliott waves analysis – Buy the us Dollar around 108.674

USDJPY – Down

Buy the us Dollar around 108.674

Wave Analysis

During the previous trading day, the US Dollar barely moved an inch from its daily opening price, on the daily chart, this pair is bullish and could continue to the upper side, however, on the weekly chart, last week’s candle was a perfect bearish pin bar candle that close above a key level 108.674, as long as the price remains above 108.674, we expect a possible momentum towards 114.094. This view can only be rendered futile in case the price breaks below 108.674, this being the case, we’ll wait for a pullback to the just broken level to short the US Dollar towards 104.765.

Trade Recommendation

Buy the us Dollar around 108.674 towards 114.067

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