Elliott waves analysis – We’re waiting for sell signals.

USDJPY – Down

Wave Analysis

As long as the price remains below the level 138.229, we expect nothing but a possible momentum to the lower side and we should see a break and close below 133.820 towards 120 and may likely extend much lower. On this chart, sellers are in full control. On the flipside, should the price break and above 138.229, then this will be a good place to consider a possible long term buy order towards 142.745 and will extend upwards.

Trade Recommendations:

We’re waiting for sell signals.

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