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As long as the price remains above the upper trendline, buy the US Dollar along this trendline towards 114.05.

As long as the price remains above the upper trendline, buy the US Dollar along this trendline towards 114.05. | 30 November 2018

30 November 2018, USD/JPY

Wave Analysis

the US Dollar is still struggling above the supportive trendline. As we mentioned during the previous trading day, as long as the price remains above this trendline, we expect a possible momentum to the upperside and should break above 113.49. If this is the case, then we'll expect further momentum to the upperside towards 114.05. A break above 114.05, may culminate into a possible spike towards 117.01. The level 117.01 is a monthly resistance level and should be a good sell place for long term sellers.

Trade Recommendation:

As long as the price remains above the upper trendline, buy the US Dollar along this trendline towards 114.05.

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Bob Stan
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