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Expect a possible rally towards 106.716

Expect a possible rally towards 106.716 | 28 August 2019

28 August 2019, USD/JPY

Expect a possible rally towards 106.716

Wave Analysis

The US Dollar is currently rallying within a range not going above 106.716 or below 105.178. These are key levels and as long as the price remains within them, we're only interested in trading reversals. the main idea here is to sell a bounce from the upper level 106.716 and buy a bounce from the lower level 105.178. As it is on the 4 hour chart, we expecting a possible rally towards the upper level to pick a long term sell order. The anticipated bullish price rally is the continuation of the impulsive wave (D) but should not go beyond 106.716.

Trade Recommendations:

Expect a possible rally towards 106.716

Bob Stan
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