Elliott waves analysis – We’re long towards 114.067

USDJPY – Down

We're long towards 114.067

Wave Analysis

Perfectly after breaking above 109.676, the US Dollar pulled back perfectly to this level and is currently on a move to the upper side. As long as the price remains above 108.918-108.674 , we expect an impulsive rally towards 111.365 and should break higher towards 113.115 and even higher to 114.062. This view can only be invalidated in case the price breaks below 108.674, this being the case, we’ll wait for a confirmation that price will continue to the lower side with our ideal target being 108.090.

Trade Recommendations:

We’re long towards 114.067

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