Elliott waves analysis – Expect a rise towards 110.39.

USDJPY – Down

Expect a rise towards 110.39.Wave Analysis

Nothing much happening on this pair, the US Dollar plunged slightly to the lowerside and has now pulled back the upperside. We expect a possible rise towards 110.39, and should price break above this level, then we’ll expect further momentum towards 114.11 or even higher. And on the flip side, should price break below 108.63, then this will be an ideal place to pick a sell order towards 104.70 or even lower. As it is on the weekly chart, if you’re not in any position at the moment, its good to remain flat for now, and expect a rise towards 110.39.

Trade Recommendations:

Expect a rise towards 110.39.

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