Elliott waves analysis – we’re looking for a short position upon a rebound from the upper trendline.

USDJPY – Down

Wave Analysis

During the previous trading day, the impulsive wave (E) traded intensely to the upperside and is now bouncing from the upper trendline. We’re waiting for a clear sign that the impulsive wave (E) is ended so that we sell a correction towards the lower trendline. Ideally, as long as the price remains above 112.080, we expect nothing but a possible momentum to the upperside. Should the price breaks below 112.080, then we’ll expect further momentum to the lowerside with an ultimate target at 111.575.

Trade Recommendations:

we’re looking for a short position upon a rebound from the upper trendline.

101% Double the volume

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