Elliott waves analysis – we’re long from 113.030

USDJPY – Down

Wave Analysis

During the previous trading day, the US Dollar rallied intensely to the upperside and even went above 113.084. As long as the price remains above this level, we expect the impulsive five wave cycle to continue to the upperside and should break above 114.00. If this is the case, then further movements to the upperside is expected. The anticipated bullish price rally is the continuation of the impulsive wave (5) and should go up to 118.00. If you’re not long already, wait for the corrective wave (4) to pullback towards 113.031 to pick a long term long position towards 118.00.

Trade Recommendations:

we’re long from 113.030

101% Double the volume

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