USDJPY – Down
Wave Analysis
Despite the previous days correction to the upper side, the US Dollar is still below the upper trendline. As we mentioned earlier this week, as long as the price is contained below the upper trendline, we expect a possible momentum to the lowerside. The anticipated bearish price rally is the continuation of an impulsive wave count and should break below 108.72. The ideal here is to wait for a clear rebound from the upper trendline to look for a long term short position towards 108.72. If the price should break below 108.72, then further movements downwards is expected.
Trade Recommendations:
we’re short from the upper trendline.
101% Double the volume
You may check other analytical reviews on FreshForex website. Source: freshforex.com.