Wave Analysis:
So far, significant move has been seen on this pair, the Us dollar is still consolidating within a range, According to the current chart set and structure, its good to remain flat temporarily and only sell upon a rebound from the 4 hour resistance level 110.40, or buy on break above it. If you’re a bit skeptic to sell on rebound from 110.40, you could wait and buy a break above 110.40 towards 111.30 or sell below 108.50. This pair should be traded alongside AUDJPY, NZDJPY, CHFJPY and NZDJPY. These pairs have a strong positive correlation of up to +53% and will move in the same direction today.
Trade Recommendations:
Flat
Origin: FreshForex
