USD/JPY Forecast: US Dollar is currently rallying around the upper trendline

a-5Wave Analysis

The US Dollar is currently rallying around the upper trendline. As long as the price remains below the upper trendline, we expect nothing but a possible momentum to the upper side, the anticipated bearish price rally is the continuation of the last impulsive wave (5) towards side and should head straight towards the lower trendline, if the price breaks below this trendline, then further rally towards 107.90 or even lower is expected. If the price should end up closing above the same trendline, then a rally much higher will be expected with the next ideal target set at 112.45.

Trade Recommendations:

Sell USDJOY now towards the lower trendline

Sell USDJOY now towards the lower trendliene

Origin: FreshForex

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