Elliott waves analysis – We’re long from within 113.722-113.553.

USDJPY – Down

We're long from within 113.722-113.553.

Wave Analysis

The US Dollar is currently above the 52 Simple Moving Average. And even most important, the price is above the supportive zone 113.553-113.77. As long as the price remains above this zone, we expect nothing but a possible momentum to the upperside. The anticipated bullish price rally is the continuation of the impulsive wave (5) to the upperside, and should break above 114.100. If this is the case, then further momentum towards 118.00 or even higher is expected. We’re only going to look for sell positions below 113.553.

Trade Recommendations:

We’re long from within 113.722-113.553.

101% Double the volume

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