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

jpy_3_newsWave Analysis

The US Dollar is currently trading with an increasing bullish bias momentum. As long as the price remains above the line 110.836, we expect nothing but a possible momentum to the upperside. As it is at the moment, we’re waiting for a clear sign that the corrective wave (ii) is ended so that we buy next last impulsive wave (iii) towards 114.191. And should the price breakout higher, then we’ll expect further movements even higher with the next ideal take profit being 117.971. Only a breakout below 110.636 will attract a sell towards 108.471.

Trade Recommendations:

Wait for a possible buy signal from 110.836 with your take profit at 114.191.

Wait for a possible buy signal from 110.836 with your take profit at 114.191.

Origin: FreshForex

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