USDJPY – Down
Wave Analysis
The US Dollar is currently showing signs of bouncing from a daily support level 111.156. As long as the price remains above this level, we expect a possible rebound from it to pick a long position with an ultimate target at 114.360. If you’re not already in a long position, you should wait for price to pullback towards 111.156 to pick a long position with an ideal target at 114.360. Should the price break below 111.156, then we’ll wait for a confirmation that the price will continue downwards towards 108.396.
Trade Recommendations:
Wait to rebuy the US Dollar around 111.156.
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You may check other analytical reviews on FreshForex website. Source: freshforex.com.