Elliott waves analysis – We’re long towards 114.131.

USDJPY – Down

We're long towards 114.131.

Wave Analysis

The US Dollar is currently trading around 109.88 We’re waiting for a clear breakout above th 109 to pick a long term buy order towards 114.131. If you’re long already, then keep this position open, if not, then expect an impulsive wave rally to the upperside, then a small correction towards 109.88 to pick a buy order towards the target set above. As it is on the chart attached, only buy positions looks more ideal, but should the price descend below 108.541, then this will be an ideal place to look for sell orders.

Trade Recommendations:

We’re long towards 114.131.

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