USD/JPY Forecast: long as the price remains below the supportive trend line

news_22_feb_1_usd_jpy-Wave Analsis

During the previous trading day, the impulsive wave (5) continued to the upperside and is still pretty much bullish. As long as the price remains below the supportive trendline, we’re waiting for a bounce from the upper trendline to pick a long term sell. Bu if the impulsive wave (5) can break and close above the upper trendline, then further momentum to the upperside is expected with an ultimate target at 110.00 or even higher. As it is on the 4 hours attached, we’re waiting for a pullback towards 109.40 to pick a low risk buy order.

Trade Recommendations:

Wait for a rebuy from 109.40 towards 110.00.

Wait for a rebuy from 109.40 towards 110.00.

Origin: FreshForex

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