Elliott waves analysis – We’re looking for a possible long term buy towards 114.00.

USDJPY – Down

We're looking for a possible long term buy towards 114.00.

Wave Analysis

The US Dollar is currently trading with an increasing bullish bias momentum. As long as the price Remains within the rising channel formation, we expect nothing but a possible momentum to the upperside, the anticipated bullish price rally is the continuation of the impulsive wave (c) to the upperside and should break above the previous day’s highest high towards 114.00. If this target is broken, then the price is likely heading even higher with the next ideal target being 118.00. As it is, we only recommend looking for buy orders.

Trade Recommendations:

We’re looking for a possible long term buy towards 114.00.

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