USDJPY – Down
Perfectly as we forecasted a fortnight ago, the US Dollar rallied a higher and even went above the short term resistance line 111.080 and is still pretty much above this line. As long as this level protects the lowerside, we expect a possible rally to the upper side. The anticipated bullish price rally is the continuation of the impulsive wave (c) and should not go beyond the major resistance level 114.046. However, should this level be broken, then a rally further to the upperside will be expected.
We’re long towards 114.046.
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