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

jpy_1_newsWave Analysis

Nothing much seems to be happening on this pair, the US Dollar attempted to break above 109.884, but is currently below it. We’re waiting for a clear breakout above 109.884 to pick a long term buy order towards 114.131, and on the flip side, should the price break below 108.541, then this will be an ideal place to pick a sell order towards 104.340. The anticipated bearish price rally is the continuation of the impulsive wave (c) and should first break below 107.015, before a move further to the lowerside is seen.

Trade Recommendation:

Wait

We're long towards 114.131.

Origin: FreshForex

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