USD/JPY Forecast: expect nothing but a possible momentum to the lower side

jy-l3Wave Analysis

After a failed attempt to break above the weekly resistance level 114.00, the US Dollar has been in a constant downtrend and is still pretty much bearish both on the daily and the weekly charts. As we mentioned few days ago, as long as the price is below 114.00, we expect nothing but a possible momentum to the lowerside with an ultimate target at 110.00. As it is on the chart above, only sell positions looks more ideal, but in case of a break above 114.00, then this will be good place to look for a long position.

Trade Recommendations:

we’re still short

Origin: FreshForex

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