USDJPY – Down
Wave Analysis
Last week, the US Dollar rose significantly despite the previous anticipation that it could decline in value. Despite this rise, this pair could not go beyond the 4 hour resistance level 107.864. As long as this level is not violated to the upper side with a big green candle, we’re still within our sellers territory. If the price goes beyond 107.864, then I’ll expect a possible momentum to the upper side with an ultimate target at 110.425. On the 4 hour chart, we expect a possible bearish momentum towards 106.775 ore even lower.
Trade Recommendations
Expect a possible momentum towards 105.455
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