Elliott waves analysis – We’re buyers

USDJPY – Down

Wave Analysis

For some reasons, the US Dollar and the British pound are in a positive correlation, both of these charts are in an active up trend. As long as the price remains above these two moving averages, I expect nothing but a possible momentum to the upperside. The anticipated bullish price rally is the continuation of the last impulsive wave (5) towards 149.00 and may accelerate much higher.

Trade Recommendations:

We’re buyers

You may check other analytical reviews on FreshForex website. Source: freshforex.com.