Elliott waves analysis – Look for sell positions towards 121.90

USDJPY is currently heading to the lowerside. As long as the price remains below 131.410, we expect nothing but a possible momentum to the lowerside. The anticipated bearish pricce raly is an extension of the last impulsive wave and will see the price rally towards 125.000 and may rally much lower. On this chart, we keep looking for long terrm sell orders towards 121 or even lower. As it is now, buy positions looks abit risky and may not be recommmnded.

Look for sell positions towards 121.90