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

jy-l3Wave Analysis

Despite the previous correction, the US Dollar closed above the zone 111.907-111.681. As long as the price is contained above this zone, we expect nothing but a possible momentum to the upperside with an ideal target at 114.014. The idea is tom wait for possible correction towards the previous week’s opening price to pick a low risk buy order. Conservative traders can have a pending buy limit order around the previous week’s opening price and stop loss below the previous week’s lowest low and take profit at 114.12.

Trade Recommendations:

Have a pending buy limit order around 111.694 and take profit at 114.25.

Have a pending buy limit order around 111.694 and take profit at 114.25.

Origin: FreshForex

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