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We're expecting for a correction towards 112.020.

We're expecting for a correction towards 112.020. | 14 October 2021

14 October 2021, USD/JPY

We're expecting for a correction towards 112.020.

Wave Analysis:

During the previous trading day, the US Dollar rallied to the upperside but failed to breakout above 113.910, we expect the rebound from around this level to be an end to the impulsive wave (v), that any rally to the lowerside is the unfolding of a corrective wave count and should see price rally to the lowerside but should not go beyond 112.020. If the price breaks below this level, then we're still looking for long term sell position with the next ideal target set around 109.500.
Trade Recommendations:
We're expecting for a correction towards 112.020.
Bob Stan
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