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Wait for a retracement towards 110.0 to pick a buy order.

Wait for a retracement towards 110.0 to pick a buy order. | 04 April 2019

04 April 2019, USD/JPY

Wait for a rebuy from 110.916 to pick a low risk buy.

Wave Analysis

The US Dollar is slowly heading to the upperside. In my opinion, this is still a buy, but the correct place to buy from is not where the price is right now, but conservative traders should wait for a retracement back towards 110.836 to pick a long term buy order towards 114.139. The anticipated bullish price rally is the continuation of the impulsive wave (iii) to the upperside and should head even higher towards 117. Overall, we expect the larger impulsive wave [c] not to break beyond 117.00 which is a good weekly sell place.

Trade Recommendations:

Wait for a retracement towards 110.0 to pick a buy order.

A lot of interesting information on the webinar!

Bob Stan
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