USD/JPY Forecast: bullish price rally is the continuation of the impulsive wave

jpy_1Wave Analysis

During the previous trading day, the US Dollar rallied to the lowerside but is now rallying above a key 4 hour support level 113.044. As long as the price is above this level, we expect nothing but a possible momentum to the upperside. The anticipated bullish price rally is the continuation of the impulsive wave (5) to the upperside with an ultimate target at 118.00. If this target is broken upwards, then further movements towards 121.00 or even higher is expected. According to the chart attached, we’re waiting for a clear buy signal.

Trade Recommendations:

we’re looking for a long position above 113.044

Источник: FreshForex

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