Elliott waves analysis – We’re waiting for a rebound from 38.2% fib level to pick a buy position towards 149.90.

USDJPY – Down

Wave Analysis

During the previous trading week, the US Dollar continues to move to the upperside and is not showing any signs of pulling back to the lowerside. As it is right now, I am waiting for a pullback towards 38.2% fib level to pick a possible long term buy position towards 149.90 and may continue much higher. On this chart, only buy positions looks ideal and can safely be recommended.

Trade Recommended.

We’re waiting for a rebound from 38.2% fib level to pick a buy position towards 149.90.

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