Elliott waves analysis – We’re short from 1112.027

USDJPY – Down

Wave Analysis

During the previous trading day, the US Dollar rallied to the upperside and is now around a key resistance level 112.027. As long as the price is below this level, we expect nothing but a possible rebound from it to pick a long term short position with an ultimate target at 110.060. ON its way to the lowerside, we’ll be watching for another break below 110.92 to confirm further momentum to the lowerside. The anticipated bearish price rally is the unfolding of an impulsive wave count to the lowerside and should break below 111.060.

Trade Recommendations:

We’re short from 1112.027

101% Double the volume

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