Elliott waves analysis – we’re long towards 114.479

USDJPY – Down

we're long towards 114.479

Wave Analysis

During the previous trading day, the US Dollar rallied lower but is still bullish on the higher time frames. For the rest of this week and possibly the entire month, we expect the US Dollar to trade within a wide range, not going below 108.573 or above 114.479. At the moment, we expect a rally upwards towards 114.479. The anticipated bullish price rally is the continuation of the impulsive wave (c) and should first break above 111.560, before a move towards 114.479 is seen. And should the price go above this target, then I expect a rally further upwards towards 118.00.

Trade Recommendation:

we’re long towards 114.479

101% Double the volume

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