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we're still long towards 114.095

15 May 2018, USD/JPY

we're still long towards 114.095

Wave Analysis

After a slight pullback to the lower side on Friday last week, the US Dollar spiked higher earlier this week and is still pretty much bullish both on the daily and the 4 hour charts, we're waiting for a break above 109.8 to confirm a possible rally to the upper side. The anticipated bullish price rally is the continuation of the impulsive wave (c) to the upper side but should not go beyond 114.087. If you're not long already, then wait for a break above 109.8 to pick a low risk buy position with an ultimate target at 114.089. Alternatively, you could wait or a pullback towards 110.480 to buy us dollar.

Trade Recommendations:

we're still long towards 114.095

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Graham Osano
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