Wave Analysis
As we forecasted previously, the us dollar continued to loose against the Japanese Yen but is currently approaching a daily support zone 108.72-108.48, this is a key demand zone and as long as it protects the lower side, we’re waiting for a rebound from this zone to pick a long position with our target at 111.07. If this target is violated upwards, then we expect an acceleration towards 114.27. However, should this level be broken, then we expect a possible momentum to the lower side with our targets being 107.10 and the next at 105.30.
Trade Recommendations:
We’re short towards 108.72
Origin: FreshForex
