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Wait for a close above 110.836.

Wait for a close above 110.836. | 22 March 2019

22 March 2019, USD/JPY

Wave Analysis

The US dollar is currently pulling back to the upperside. We're waiting for a clear close above 110.416 to pick a possible long term buy towards 114.135. And should price breakout higher, then we'll continue upwards with the last impulsive wave (v) towards 117.35. The anticipated bullish price rally is the continuation of the larger impulsive wave [c] and may ultimately rise beyond 117.13 but should not go above 124.0. This view will only be invalidated in case the price close below 110.23, if this is the case, then a decline towards 108.471 is expected.

Trade Recommendation:

Wait for a close above 110.836.

A lot of interesting information on the webinar!

Bob Stan
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