USDJPY – Down
Wave Analysis
During the previous trading day, the impulsive wave (c) extended significantly to the upper side and is still pretty much bullish both on the daily and the weekly charts. As long as the price remains above 111.040, we expect a possible momentum to the upper side. The anticipated bullish price rally will be an extension of the impulsive wave (c) to the upper side and may break above 114.360. If this is the case, then a move towards 118.00 is expected. At the moment, only long positions looks more ideal and can be recommended.
Trade Recommendations:
We’re still long towards 114.360
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