Elliott waves analysis – We’re waiting for a clear sign to buy

USDJPY – Down

We're waiting for a clear sign to buy

Wave Analysis

Perfectly as previously forecasted, the Us Dollar declined steeply but is currently rallying above a key daily support level 108.72. Unless there’s a clear violation of this level to the lowerside with a main candle, we expect a possible rebound from this level to pick a long position with an ideal target at 111.07, if you went short previously around 111.07 as we stated in our previous forecasts, then now is the best time to book your profits and look for potential buy orders. However, should the price close below 108.45, then expect further decline towards 107.10.

Trade Recommendations:

We’re waiting for a clear sign to buy usd towards 111.07

101% Double the volume

!Attention!
All bonus participates in drawdown!

FreshForex cancels commissions!

You may check other analytical reviews on FreshForex website. Source: freshforex.com.