During the previous trading day, the US dollar continues to correct itself to the upper side but is still several pips below our sellers territory 107.65. Today and in the next few days, we expect a rise towards 107.86 to sell this pair at the least risk possible. Should the price break above 107.85, then we expect further bullish price rally towards 111.11 or even higher but should not go beyond 114.55. If the price should break below 105.38, then this will be another good place to sell this pair. This pair should be traded alongside CADJPY, NZDJPY, CHFJPY and AUDJPY.
Sell the US Dollar upon a rebound from 107.85