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We're long

We're long | 04 October 2018

04 October 2018, USD/JPY

We're long

Wave Analysis

The US Dollar is currently trading with an increasing bullish bias momentum. The previous day's candle was a perfect engulfing candle and as long as the price remains above the daily resistance level 112.75, we expect nothing but a possible momentum to the upperside. The anticipated bullish price rally is the continuation of the impulsive wave (5) to the upperside and should break above 118.00 towards 121.00 or even higher. The ideal here is to wait for a correction to the lowerside then pick this position.

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We're long

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