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we're still long | 29 October 2018

29 October 2018, USD/JPY

Wave Analysis

According to the weekly chart above, the US Dollar is currently bouncing from the trend indicator Envelopes. As long as both the lower and the upper envelope protects the lowerside we expect a possible momentum to the upperside. The anticipated bullish price rally is the continuation of both the impulsive waves v and (c) and should break above 114.182 towards 117.883. This view can only be invalidated in case the price rebound from 114.182, if this is the case, then a momentum to the lowerside is expected.

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we're still long

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