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We're long | 21 February 2019

21 February 2019, USD/JPY

Wave Analysis

On the hourly chart attached, the US Dollar is still within the rising channel formation. As we mentioned in our previous forecast, while the price is contained within this channel, we expect a steep rise even higher. The idea here is to wait for a break above the previous week's highest high to pick a long term buy towards 114.00. The anticipated bullish price rally will be the continuation of the impulsive wave (c) upwards and should first rise above the recent highest high, before a move even higher is seen.

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We're long

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Bob Stan
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