Elliott waves analysis – Buy the us dollar towards 114.479

USDJPY – Down

Wave Analysis

During the previous week, the US Dollar declined in value but ended up not going below the daily support level 108.573. We expect the halt around 108.573 to have marked the end of the corrective wave (b), that the current movements to the upper side is the unfolding of the impulsive wave (c) to the upper side but should not go beyond 114.479. If you’re not already in a long position, you could still look for long positions now, and have your take profits at 114.479. In case of a breakout above 114.479, then expect further movements upwards.

Trade Recommendations:

Buy the us dollar towards 114.479

101% Double the volume

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