02 May 2018, USD/JPY
Wave Analysis
The US Dollar is slowly approaching our 4 hour resistance level 110.157. Today and in the next few days, we expect a possible momentum to the upper side and should break above 110.157. The anticipated bullish price rally is the continuation of the impulsive wave (5) to the upper side and should break above 110.157 with the next ideal target being 114.00. If you'e not already in a long position, you could wait for a pullback to the lower side to pick a low risk long position with an ultimate target at 114.00. Sell positions can be recommended below 108.629.
Trade Recommendations:
Wait for pullbacks to pick long positions towards 114.00.
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