USD/JPY Forecast: expecting a correction towards the lower trendline

jpy_3_newsWave Analysis

Previously, we were expecting a correction towards the lower trendline. As long as the price remains above the lower trendline, we expect nothing but a possible momentum to the upperside. The anticipated bullish price rally should be an extension of the last impulsivve wave (5) to the upperside and should break above the upper trendline towards 118.90 towarrds 120.90 or even higher. Only a break below the lower trendline will push the price downwards.

Trade Recommendations:

We’re buyers towards the upper trendline.

Expect a possible long term buy position towards the upper trendline.

Origin: FreshForex

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