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Buy a break above the flag formation towards 114.00.

Buy a break above the flag formation towards 114.00. | 17 December 2018

17 December 2018, USD/JPY

Buy a break above the flag formation towards 114.00.

Wave Analysis:

After bouncing perfectly from the supportive trendline, the US Dollar rallied to the upperside and is still pretty much above this level, as long as the price is contained above this level, we expect nothing but a possible momentum to the upperside with the next ideal target being 114.00. According to the daily chart attached, we're waiting for a breakout above the upper trendline to confirm that we're short with our ideal target being 114.54. If you're long already, remain long, if not, wait for either a break above the upper trendline or above 114.00 to confirm that we're long towards 117.21.

Trade Recommendations:

Buy a break above the flag formation towards 114.00.

Do you know against which currencies JPY is the most profitable?

Buy a break above the flag formation towards 114.00.

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Bob Stan
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