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

jpy_2_newsWave Analysis

The US Dollar is currently trading with an expanding wedge formation. As long as the price remains within this shape formation, we expect a possible momentum to the lower side. The anticipated bearish price rally is the continuation of the impulsive wave (5) to the lower side and should break below 112.040. If this is the case, then we’ll expect further movements to the lower side with the next ideal target at 110.00. According to the current chart, only a sell position looks ideal and can be recommended.

Trade Recommendations:

We’re short

We're short

Origin: FreshForex

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