Elliott waves analysis – we’re short towards 109.390

USDJPY – Down

Wave Analysis

Perfectly as previously forecasted, the US Dollar bounced off from the upper trendline and is now heading to the lowerside. As we mentioned during the previous trading day as long as the price remains below the resistance trend line, we expect nothing but a possible momentum to the lower side. The anticipated bearish price rally is the unfolding of an impulsive wave count to the lowerside and should break below the lower trendline, but should not go lower than 109.390. You can still look for short positions now and have you target at 109.390.

Trade Recommendations:

we’re short towards 109.390

101% Double the volume

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