Elliott waves analysis – We’re still bullish towards 114.192.

USDJPY – Down

We're still bullish towards 114.192.

Wave Analysis

The US Dollar appears to be loosing ahead of the Midterm elections results. As long as the price remains above 111.665, we still expect a possible momentum to the upper side with an ideal target at 114.192. And should the price break above 114.192, then this will be a good place to look for a long term long position towards 117.883. And on the bears side, should the price break below 111.665, then this will be a ideal place for sellers to take full control towards the next weekly support set at 107.350.

Trade Recommendations:

We’re still bullish towards 114.192.

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