Elliott waves analysis – We’re long above 112.68

USDJPY – Down

We're long above 112.68

Wave Analysis:

During the previous trading day, the US Dollar rallied further to the upperside and is still pretty much bullish both on the daily and the weekly charts. As long as the price does not break above 112.68, a 4 hour resistance line, we’re short. But should the price rise above this level, then this level, then this will be a good place to look for long term long position. The anticipated bullish price rally is the continuation of the impulsive wave c to the upperside and should break beyond 114.08 towards 118.00 or even higher.

Trade Recommendations:

We’re long above 112.68

101% Double the volume

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