Elliott waves analysis – We’re buyers towards 140.90 and may likely continue much higher.

USDJPY – Down

Wave Analysis:

During the previous trading day, nothing much happened on the US Dollar. As it is right now, I am waiting for a clear breakout above the previous day’s highest high to pick a possible long term buy position. The anticipated bullish price rally is the continuation of an impulsive wave (5) to the upperside and should continue much higher with the next ideal target set around 140 and may likely continue much higher.

Trade Recommendations:

We’re buyers towards 140.90 and may likely continue much higher.

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