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Buy the US Dollar above 111.040.

Buy the US Dollar above 111.040. | 11 July 2018

11 July 2018, USD/JPY

Buy the US Dollar above 111.040.

Wave Analysis

During the previous trading day, the Us Dollar attempted a break above the short term daily resistance line 111.040 but could not contain this breakout, rather, the price pulled back to the lower side and is now below the same line. The previous day's pin bar candle is a possible sell candle, and as long as the level 111.040 remains intact, we expect a possible momentum to the lower side. However, should the price break above 111.040, then this will be a good place to look for a long position towards 114.329.

Trade Recommendations:

Buy the US Dollar above 111.040.

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Bob Stan
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