Wave Analysis
The USDJPY continues to rally to the lowerside but is Bullish in Overall. While the price remains above the Alligator indicator lines, we expect a continuation of the current impulsive wave count and should push the price much higher with the next ideal target set 114.36. A breakout above this level will mean we are continuing much higher. On the flipside, if the price breaks below the Alligator indicator lines, we expect nothing but a possible momentum to the lowerside. This will be a correction of the current impulsive wave count but should not go beyond 107.
Trade Recommendations:
We’re holding onto the previous week’s buy position with an ideal target set at 114.036.
Origin: FreshForex
