USD/JPY Forecast: After barely hitting the upper trend line

usd-jpyWave Analysis

After barely hitting the upper trendline, the us dollar rebounded to the lowerside and is till pretty much bearish both on the daily and on the weekly charts. On this chart, we expect this bearish price rally to be the continuation of the impulsive wave (5) and (c) to the lowerside and should break below 105.393 towards 104.702 or even lower. On this chart, sell positions looks ideal and can safely be recommended, but in case of a break above the upper trendline, then we may consider a buy position.

Trade Recommendations:

Remain short towards 105.393.

Remain short towards 105.393.

Origin: FreshForex

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