USDJPY – Down
Wave Analysis
This pair is currently trading with an increasing upward momentum. Following the breakout above the resistance level $104.01, we expect a possible bullish price movements towards 106.15 or even higher to $106.52. Ideally, as long as the pair trades above $104.01, we expect this level to act as a support to any downward movements, a clear breakout below $103.80 will lead to an acceleration to the lower side but should not go beyond $101.78, a clear breakout below this target will push the price further to the lower side. This pair will have a similar price action with USD/CHF and EUR/JPY.
Trade Recommendations:
Remain long with the first target at $106.15. and the next target at $106.52
You may check other analytical reviews on the web-site of FreshForex company. Source: freshforex.com.
The post Elliott waves for Forex correlation analysis – Possible bullish momentum developing appeared first on forex-analytics.press.
