USDJPY – Down
Wave Analysis:
The US Dollar is currently trading in an uptrend, the price has been rallying within the upper and the lower trendline for a while now. Previously, the price rebounded from the lower trendline at the corrective wave cycle four towards the upper side at the impulsive wave cycle five. Right now the price is on the upper trendline, I expect a break above the upper trendline, should the price bounce back, I expect it to go up to around 138.45 then rebound back to the upper side. If you are looking at this pair, wait for clear price action then pick a buy or a sell.
Trade Recommendations;
We are on the sidelines.
You may check other analytical reviews on FreshForex website. Source: freshforex.com.
