wait | 20 December 2018

20 December 2018, USD/JPY

Wave Analysis

Instead of rallying to the upperside, the US Dollar traded intensely to the lowerside and an even went below the supportive trendline. If the last impulsive wave (E) should close below the supportive trendline, then this will be a good place to look for a long term short position with an ultimate target at 111.45. On the bullish side, only a rise above the same trendline will attract a long term long position towards the upper trendline. With this upwards position, the best places to look for buy positions include 113.05, 114.00 and the last at 118.00.

Trade Recommendation

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