We're looking for a buy position now. | 19 December 2018

19 December 2018, USD/JPY

Wave Analysis

During the previous trading day, the US Dollar rallied to the lower side but failed to break below the supportive trendline, acting as the bottom to the descending channel formation. We expect the rebound from this support to have marked an end to the impulsive wave (E), that the current pullback to the upperside is the unfolding of a fresh rally to the upperside, and should head towards the upper trendline. If you're not in any position at the moment, you could look for a possible buy order with your target around 114.00.

Trade Recommendations:

We're looking for a buy position now.

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Bob Stan
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