Elliott waves analysis – We’re long towards 111.080.

USDJPY – Down

We're long towards 111.080.

Wave Analysis

Perfectly as previously forecasted, The US dollar rallied to the upper side and is still pretty much bullish both on the daily and the weekly charts.Today and possibly tomorrow, we expect a rally towards the short term daily resistance level 111.080 and should breakout above it. If this is the case, then we’ll wait for a slight correction to the just broken level to pick a long position. The anticipated bullish price rally is the continuation of the impulsive wave (c) and may not breakout above 114.360.

Trade Recommendations:

We’re long towards 111.080.

101% Double the volume

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