Elliott waves analysis – we’re short towards 109.510

USDJPY – Down

Wave Analysis

Perfectly as previously forecasted, during the previous trading day, the US Dollar plunged to the lowerside and is still pretty much bearish both on the daily and the weekly charts. As long as the price remains within the expanding wedge formation, we expect nothing but a possible momentum to the lowerside. The anticipated bearish price rally is the continuation of another impulsive wave count to the lowerside with an ultimate target at 109.510. If you’re not already in any position, you can wait for minor pullbacks to pick a short position.

Trade Recommendations:

we’re short towards 109.510

101% Double the volume

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