Wave Analysis
USDJPY is currently in an active up trend. While the price remains above the three moving averages, we expect nothing but a possible momentum to the upperside. The anticipated bullish price rally is the continuation of the impulsive wave (5) to the upperside and should breakout beyond 105.525 towards 110.00 or even higher. If you are looking at this chart now, a pullback towards 23.6% fib level or 38.2% fib level will be a good place to consider a possible long term buy position.
Trade Recommendations:
Buy a break above 105.525 with your target at 110.00.
Origin: FreshForex
