USD/JPY Forecast: Us dollar continues to consolidate

jpy_1_newsWave Analysis

Nothing much appears to be happening on this pair, the Us dollar continues to consolidate within the contracting wedge formation. If the price can successfully break and close below the supportive trend line, then this will be a good place to consider a long term sell order towards 106.55. The anticipated bearish price rally is the continuation of a corrective three wave cycle and could see the price break below 109.190 towards 106.025. A break and a close above 111.725 towards 112.21 or even higher.

Trade Recommendations:

Sell a break below the supportive trend line.

Sell a break below the supportive trendline.

Origin: FreshForex

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