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Wait | 08 February 2019

08 February 2019, USD/JPY

We're long towards 114.131.

Wave Analysis

Nothing much seems to be happening on this pair, the US Dollar attempted to break above 109.884, but is currently below it. We're waiting for a clear breakout above 109.884 to pick a long term buy order towards 114.131, and on the flip side, should the price break below 108.541, then this will be an ideal place to pick a sell order towards 104.340. The anticipated bearish price rally is the continuation of the impulsive wave (c) and should first break below 107.015, before a move further to the lowerside is seen.

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