Wave Analysis
Perfectly as we forecasted, the pair bounced from the supportive indicator and is still rallying above it. As we mentioned in our previous forecast, while the price is contained above this indicator, we expect the indicator to act as a dynamic support. Which means any clear pullbacks towards the same support will attract a long position towards 114.080. The anticipated bullish price rally is the continuation of the impulsive wave (5) and should break beyond 114.080 towards 117.00 or even higher. You could also wait and buy a break above 114.080.
Trade Recommendations:
You could buy USDJPY above 114.080 with your take profit at 117.05.
Origin: FreshForex
