Elliott waves analysis – As long as the price remains below 110.81, we expect a rally towards 108.65

USDJPY – Down
As long as the price is below 110.81, look for short position.
Wave Analysis

The US Dollar is below the 4 hour level 110.81. And as we stated few days ago, while the price is below this level, we expect a possible extension of the impulsive wave (c) to the lowerside and should breakout below 109.25 but should not go lower than 108.05. This view can only be invalidated in case the price breaks above 112. If this is the case, then an acceleration towards 118 is highly expected.

Trade Recommendations:

As long as the price remains below 110.81, we expect a rally towards 108.65

101% Double the volume

!Attention!
All bonus participates in drawdown!

FreshForex cancels commissions!

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

Shares