USD/JPY Forecast: Us Dollar pulled back to the lower side

jy-l6Wave Analysis

During the previous trading day, the Us Dollar pulled back to the lower side but is still above the level 109.950. We expect the bounce from 109.950 to have marked an end to the corrective wave (iv) that the current bullish price rally to be the continuation of the impulsive wave (v) to the upper side and could break above 112.130 towards 112.675. This view can only be rendered futile in case the price breaks and closes below 109.950, if this is the case, then a possible bearish momentum towards 108.315.

Trade Recommendations:

Waiting for a possible buy.

Origin: FreshForex

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