USDJPY – Down
Wave Analysis:
After reaching the highs of 144.100, the US Dollar is still struggling below the level 144.600. This is a significant level and while the price does not clearly break and close above it, I am waiting for a rebound from it to pick a possible long term sell position. A break and close above it will mean we’re continuing to the upperside with the last impulsive wave (5) towards 148.90 and will likely continue higher, while a rally to the lowerside is the unfolding of a corrective wave count and will see the price continue towards 138.400.
Trade Recommendations:
we’re sellers for now towards 138.420.
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