Wave Analysis:
During the previous trading day, the impulsive wave (5) extended slightly to the lower side but is still pretty much bearish both on the daily and the weekly charts. If you’re not already in a short position, you could wait for a break below 105.295 to confirm a possible bearish price rally towards 100.02. The anticipated bearish price rally will be the continuation of the impulsive wave (5) to the lower side with an ultimate target at 100.00. This pair should be traded alongside CADJPY, CHFJPY, NZDJPY and AUDJPY.
Trade Recommendations:
Remain short with an ultimate target at 100.00
Origin: FreshForex
