USD/JPY Forecast: expect a possible acceleration towards 111.560

jpy_1Wave Analysis

During the previous trading day, the US Dollar rallied higher and is still pretty much bullish both on the daily and the weekly charts. I expect a possible acceleration towards 111.560 and should break higher. If you’re not already in a long position, you could wait for this breakout to pick a long position. The anticipated bullish price rally is the continuation of the impulsive wave (c) and could break above 114.479 but should not go beyond 118.550. This view will only be rendered futile in case the price breaks below 108.573.

Trade Recommendations:

We’re long with our first target at 111.560 and the next at 114.479

We're long with our first target at 111.560

Origin: FreshForex

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