USD/JPY Forecast: US Dollar could barely contain itself below the lower trendline

jy-l4Wave Analysis

Yesterday, the US Dollar could barely contain itself below the lower trendline. After a rebound from around 103.570, the US dollar moved massively to the upperside and is now touching the upper trendline. We are waiting for a clear sign that the price is above the upper trendline to pick a possible long term buy position. The anticipated bullish price rally is the continuation of the impulsive wave (c) to the upperside and should break above 103.745 towards 103.820 and may breakout much higher.

Trade Recommendations:

Wait and buy a breakout above 103.745 with your target at 103.90.

Wait and buy a breakout above 103.745 with your target at 103.90.

Origin: FreshForex

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