USDJPY – Down
For the last two trading day, the US dollar has been in an active up trendline. and the fact that the price closed above 111.91, we expect nothing but a possible momentum further to the upperside. The anticipated bullish price rally is the continuation of the impulsive wave (5) to the upperside and should first breakout above 114.30. A break above this level will push the price even higher towwards 117.22. As it is, sell orders looks a bit risky, but should price break below the supportive trendline, then this will be a sell.
We’re long above 111.91 towards 117.22
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