Elliott waves analysis – Buy the cable from 110.310

USDJPY – Down

Buy the cable from 110.310

Wave Analysis

The US Dollar is currently trading with an increasing bullish bias momentum. As long as the price is protected above both the two simple moving averages, we expect nothing but a possible momentum to the upperside. The anticipated bullish price rally is the continuation of the impulsive wave (5) and should continue towards 114.00 or even higher. The idea as it is to wait for a bounce from 110.310 to pick a low risk buy order towards 114.00 and should breakout even higher towards 118.00 or even higher.

Trade Recommendations:

Buy the cable from 110.310

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