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

jy-l6Wave Analysis

Just as previously anticipated, the US Dollar sustained the break above the upper trendline and is still pretty much above this level. As long as the price remains above this trendline, the previous analysis that this pair could continue to the upperside remains valid. The idea is to wait for a retracement back towards the immediate trendline to pick a low risk buy order. The anticipated bullish price rally is the continuation of the impulsive wave (c) to the upperside and should break above 108.59 but should not go above 112.75.

Trade Recommendations:

Buy the US Dollar from 106.75 with your take profit at 108.89.

Look for a buy towards 106.69.

Origin: FreshForex

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