Wave Analysis
USDJPY_e is currently rallying around 104.539. On the 1 Hour Chart , the previous candle closed above the previous 52 Period Exponential Moving Average. This is a possible Indication that we are in an active up trend . USDJPY_e is currently in a range, not going above the previous day’s highest high 104.636,or the previous day’s lowest low 103.682 . If the price breaks above 104.636 then we will consider a long term buy with our target at 101.455. And on the flip side, a sustained move below 104.636 will attract sellers with an ideal target around 98.9749.
Trade Recommendations:
Sell from 104.666 towards 100.550.
Origin: FreshForex
