Elliott waves analysis – we’re long from 111.030

USDJPY – Down

we're long from 111.030

Wave Analysis

During the previous trading day, the US dollar pulled back slightly to the lowerside but is still above the daily support level 111.0360. As long as the price is contained above this level, we expect a possible rally further correction slightly to the lowerside but should not break below 111.030. You can still look for a long position now, and with this position, you should have your take profit at 114.32. This view can only be invalidated in case the price breaks below 111.030, if this is the case, then we’ll expect a momentum to the lowerside.

Trade Recommendations:

we’re long from 111.030

101% Double the volume

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