Elliott waves analysis – We’re buyers towards 123.89

USDJPY – Down

Wave Analysis:

The US Dollar is currently in an active up trend. While the price remains above the previous week’s highest high, we expect nothing but a possible momentum to the upperside. The anticipated bullish price rally is the continuation of the last impulsive wave (v) to the upperside and may see the price break and close above 118.90 or even higher. If you are looking at this chart now, focus mostly on buy positions with an ultimate target set at 121.90.
Trade Recommendations:
We’re buyers towards 123.89

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