Elliott waves analysis – we’re long above 111.402

USDJPY – Down

Wave Analysis

the US Dollar is currently rallying few pips above 111.402. As long as the price remains above this level, we expect nothing but a possible momentum to the upper side. The anticipated bullish price rally is the unfolding of an impulsive wave count and should break above 113.080. If this is the case, the we’ll expect further rally even higher. This view can only be invalidated in case the price breaks below 111.403, if this is the case, then we’ll expect a possible momentum to the lower side with an ultimate target at 109.620.

Trade Recommendations:

we’re long above 111.402

101% Double the volume

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