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Wait for a low risk sell from 106.716.

Wait for a low risk sell from 106.716. | 30 August 2019

30 August 2019, USD/JPY

Expect a possible rally towards 106.716

Wave Analysis

The US Dollar us still within the range we marked yesterday, we expected a possible momentum towards 106.716, this is exactly what is happening, this pair continues to rise intensely but should not go beyond 106.716. If there's a clear bounce from this resistance, then this will be a good place to look for low risk sell orders towards 105.178. A breakout above 106.716, will push the price further to the upperside with the next ideal take profit being 110.00. A breakout higher could push price even higher towards 114.00.

Trade Recommendations:

Wait for a low risk sell from 106.716.

Bob Stan
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