USD/JPY Forecast: long as the price remains above this zone

jpy_3_newsWave Analysis

The US Dollar is still rallying above the 4 hour resistance level 108.700-108.661, as long as the price remains above this zone, we’re looking for long term buy orders, the idea is to wait for minor corrections of the impulsive waves (v) and 5 and should not go beyond 108.700 which is a good buy place. But on the flip side, should price breakout below 108.700, then we’ll wait for a pullback to the just broken level to pick a low risk sell order towards the supportive trendline. A bounce from this trendline will attract a buy.

Trade Recommendations:

Rebuy the US Dollar from 108.700

Origin: FreshForex

Leave a Reply