Elliott waves analysis – Expect a possible bullish movement towards 110.39.

USDJPY – Down

Expect a rise towards 110.39.

Wave Analysis

Still we’re just a few pips below where the weekly candle opened. As we mentioned previously, while the price is above the level 108.63, we expect nothing but a possible momentum towards 110.39,. a break above this level will push the price further to the upperside towards 114.11. And on the flip side, in case of a break below 108.63, then this will be an ideal place to look for a possible sell towards 104.70. a break below this target may push the price even lower towards the next key level set at 100.00.

Trade Recommendation

Expect a possible bullish movement towards 110.39.

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