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USDJPY. Look for buy positions towards 106.926.

USDJPY. Look for buy positions towards 106.926. | 16 August 2019

16 August 2019, USD/JPY

USDJPY. Look for buy positions towards 106.926.

Wave Analysis

After a massive bullish rejection seen earlier this week, the US Dollar is yet to give us any clear signals for continuing to the lowerside. As it is on the 4 hours chart attached, we're basically waiting for a possible momentum to the uppeside towards 106.926. The anticipated bullish price rally is the continuation of the impulsive wave (c) to the upperside and should first break above the previous day's highest high towards 106.926. A break above this target will push the price further to the upperside.

Trade Recommendation:

Look for buy positions towards 106.926.

Bob Stan
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