USD / JPY Forecast: US dollar pulled back nicely to the lowerside


Wave Analysis

Yesterday, the US dollar pulled back nicely to the lowerside but is still above the upper trendline. We’re waiting for a clear rebound from the same trendline to pick a possible long term buy position expecting price to continue upwards towards 114.101. This view remains valid as long as the price is above the upper trendline, a breakout and a close below the same trendline will mean we are continuing to the lowerside with an ultimate target set around 104.959. On its way downwards, the key levels to look for include 109.120 and 106.220.

Trade Recommendations:

Buy a rebound from the upper trendline towards 114.101.

Buy a rebound from the upper trendline towards 114.101.

Origin: FreshForex


Avatar

Karice Dabule

Read Previous

Messari: after listing on Coinbase, the price of a cryptoasset grows by 91% on average

Read Next

Powell: a one-off price hike is not a steady rise in inflation