USDJPY – Down
Wave ANalysis
During the previous trading days, the US Dollar rallied higher but failed to breakout above the short term daily level 111.080. As long as the price remains below this level, we choose to either remain flat, or sell on a rebound from 111.080, but should the price break above 111.080, then this will be a good place to look for a long position. The anticipated bullish price rally is the continuation of the impulsive wave (c) and should break above 114.360. In case of a rebound from 114.360, then this will be a good place to look for a short position.
Trade Recommendation.
Consider a long term long position on a breakout above 111.080.
101% Double the volume
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