Elliott waves analysis – We’re still upwards towards 114.131.

USDJPY – Down

Wave Analysis

Us Dollar is currently trading with an increasing bullish bias momentum. As we mentioned previously, while the level 108.541 protects the lowerside, we expect a possible momentum to the upperside towards 114.131. On its way upwards, the key level to look for include 112.160 and 112.860, if these levels are breached, then a rise towards 114.131 is expected. And on the flip side, only a clear descend below 108.541 will mean we’re looking for sell orders, with these sell orders we expect a momentum towards 105.040.

Trade Recommendations:

We’re still upwards towards 114.131.

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