04 April 2018, USD/JPY
Wave Analysis:
After establishing a bottom at 104.50, the US Dollar is currently rallying to the upper side. We expect the level 104.50 to have marked the end of the previous five wave cycle, that the current bullish price rally is the unfolding of a corrective three wave cycle but should not go beyond then daily resistance level 108.050. If this target is taken out, then we expect further growth with an ultimate target at 110.645. Ideally, as long as the price remains above 105.810, we expect rally to the upper side, should the price break below it, then I expect a move to the lower side.
Trade Recommendation:
Expect a possible bullish price rally towards 108.575.
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