USD/JPY Forecast: Us dollar continues to rally above this trendline

jpy_1Wave Analysis

After breaking above the upper trendline. The Us dollar continues to rally above this trendline. As it is now, we expect nothing but a possible momentum to the upperside. The anticipated bullish price rally is the continuation of an impulsive wave count and could see price break above 114.195 towards 117.070 or even higher. As it is now on this chart, we recommend looking for long term buy positions. On the flipside, should the price break and close below the same trendline, then we are looking for low risk sell orders towards 101.935.

Trade Recommendations:

We’re buyers with an ultimate target at 116.78.

We're buyers with an ultimate target at 116.78.

Origin: FreshForex

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