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Buy the Us dollar above 111.040

Buy the Us dollar above 111.040 | 02 July 2018

02 July 2018, USD/JPY

Buy the Us dollar above 111.040

wave Analysis

During the previous week, the US dollar rose significantly to the upper side but is still below the short term daily level 111.040. Unless there's a clear breakout above this level, we expect a possible rebound from it to pick a short position. But should the price breakout above it, then this will be an opportunity to look for a long . The anticipated buy position will be the continuation of the impulsive wave (c) and may breakout above 114.00 but should not go beyond 118.00. Conservative traders should wait for a break above 111.040 to pick a buy position.

Trade Recommendations:

Buy the Us dollar above 111.040 towards 114.360

101% Double the volume

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Bob Stan
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