Elliott waves analysis – Buy a bounce from 108.13-108.05 with your take profit at 108.25.

USDJPY – Down

We’re short with our first take profit at 108.11.

Wave Analysis

The US Dollar continues to consolidate . Nothing much has happened on this pair since the previous trading day, we still expect further movements to the lowerside but should not go beyond 108.13-108.05. If the price breaks below this zone, then we will expect further momentum to the lowerside with the nest ideal take profit at 107.00. A bounce from 108.13-108.05 will mean we’re continuing to the upperside with our first target at 108.95, a break above this level will push the price even higher.
Trade Recommendations:
Buy a bounce from 108.13-108.05 with your take profit at 108.25.

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