Elliott waves analysis – We’re short below 112.

USDJPY – Down

Wave Analysis

During the previous trading day, the impulsive wave (c) traded massively to the lowerside and is still pretty much bearish both on the daily and the weekly charts. As long as the price remains below 113.315, we expect a possible momentum to the lowerside with an ultimate target at 111.195. The anticipated bearish price rally is the continuation of the impulsive wave (c) to the lowerside and should first break below 112. before a move further to the lowerside is expected towards 110.930.

Trade Recommendations:

We’re short below 112.

101% Double the volume

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