USD/JPY Forecast: long as the price is protected from violating the upper side

jpyWave Analysis

Following the bearish pin bar seen few days ago, the US Dollar has been in an active downtrend. This is perfectly in line with what we forecasted during the previous day;s analysis. On the 15 minutes chart attached, the only key level is around 108.455. And the overall trend is downwards, thus, as long as the price is protected from violating the upperside by the level 108.455 and the upper Resistance cloud formation, we expect nothing but a possible momentum to the lowerside. The anticipated bearish price rally is the continuation of the impulsive wave (c) and should break below 108.265 towards 105.00.

Trade Recommendations

We’re waiting for a resell from 108.455 towards 105.00.

We're still sellers in this market

Origin: FreshForex

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