USDJPY – Down
Wave Analysis
Despite the previous expectations that the US Dollar could pullback towards 108.790 before heading to the upper side, this pair barely went below 109.00 and is currently heading upwards. As long as the US Dollar remains above 108.790-108.629, we expect a possible momentum to the upper side. If you’re not long already, you could wait for a break above 109.475 to confirm a possible momentum to the upper side. Then anticipated bullish price movements is the continuation of the impulsive wave (5) to the upper side and may go beyond 114.00.
Trade Recommendations:
Buy the US Dollar above 109.475 towards 114.00
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