Elliott waves analysis – We’re long above 112.450 towards 113.621

USDJPY – Down

Wave Analysis

During the previous trading day, the US Dollar rallied to the upper side perfectly as previously anticipated and is still pretty much bullish both on the daily and the weekly charts. Following the break above the immediate moving Average, we expect nothing but a possible momentum to the upper side with the ideal target at 113.621. The level 113.621 is a key level and should the price ascend above it, then this will be a good place to look for a long term long position with an ultimate target at 118.00.

Trade Recommendations:

We’re long above 112.450 towards 113.621

101% Double the volume

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