USD/JPY Forecast: expected a possible rebound from the upper trendline

news_22_feb_1_usd_jpy-Wave Analysis

Yesterday, we expected a possible rebound from the upper trendline to sell the last impulsive wave cycle. However, we are yet to see any clear rebound signs from the upper trendline, as it is right now, we are expecting a possible breakout above the upper trendline to pick a possible long term buy position towards 112.00 and may extend much higher. If the price rebounds from this trendline as previously expected, then we are sellers towards the lower trendline.

Trade Recommendations:

We’re on the sidelines

Sell USDJOY now towards the lower trendliene

Origin: FreshForex

Leave a Reply