USDJPY – Down
Wave Analysis:
The price has been trading within the upper and the lower trendline for quite some time, recently the price bounced off from the upper trendline at the impulsive wave cycle three towards the lower side at the corrective wave cycle four. Right now, the price is at the lower trendline, I expect a rebound towards the upper side in continuation of the impulsive wave cycle five. On the flipside, should the price break below the lower trendline, then we will be short. If you are looking at this pair right now, pick a buy from 137.33 towards 138.35.
Trade Recommendations:
We are long.
You may check other analytical reviews on FreshForex website. Source: freshforex.com.
