USD/JPY Forecast: US Dollar is still below the previous week’s highest high

jpyWave Analysis

Nothing much happened during the previous trading day, the US Dollar is still below the previous week’s highest high and above the previous week’s lowest low. I the price should breakout above the previous week’s highest high, then this will be a good place to consider a possible long term buy position with an ideal target set at 114.105. If the price break below the previous week’s lowest low, then we will be expecting further momentum to the lowerside with an ideal target set at 104.959.

Trade Recommendations:

Wait.

As long as the price remains above the upper trendline we are looking for long term buy positions towards 114.101.

Origin: FreshForex

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