Elliott waves analysis – Buy US Dollar above 111.560

USDJPY – Down

Buy US Dollar above 111.560

Wave Analysis

During the previous trading day, the us dollar dropped but is currently recovering upwards. We went long previous around 108.573 and is still holding, our expectations is that the price should continue upwards especially if the price can break above 111.560. If you’re not already in a long position, you could safely wait for a breakout above 111.560 to pick a long position with an ultimate target at 114.479. This view can only be invalidated in case the price breaks below 108.573, this being the case, we’ll expect a rally to the lower side.

Trade Recommendation.

Buy US Dollar above 111.560 towards 114.479

101% Double the volume

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