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USDJPY. Look for low risk buy orders towards 106.740

USDJPY. Look for low risk buy orders towards 106.740 | 16 July 2019

16 July 2019, USD/JPY

USDJPY. Look for low risk buy orders towards 106.740

Wave Analysis

Yesterday, the US Dollar bounced off from the supportive trendline and is currently heading to the upperside perfectly as previously forecasted. As we mentioned previous, we expect the bounce from this trendline to have marked an end to the corrective wave (D), that the current impulsive ave to the upperside is the continuation of wave (E) to the upperside and should breakout above the upper trendline towards 110.530. This view can only be invalidated in case the price breaks below the supportive trendline.

Trade Recommendations:

Look for low risk buy orders towards 106.740

Bob Stan
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