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Wait | 27 February 2019

27 February 2019, USD/JPY

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Wave Analysis

Instead of rallying to the upperside, the US Dollar rallied lower but is still very bullish both on the daily and the weekly charts. As we mentioned previously, while the price is within the rising channel formation, we expect nothing but a possible momentum to the upperside. The anticipated bullish price rally is the continuation of the impulsive wave (c) to the upperside and should break above 111.005 towards 114.00. The ideal here is to wait for a bounce from the supportive trendline to pick a low risk buy order to the upperside.

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Bob Stan
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