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Wait for buy positions towards 109.15.

Wait for buy positions towards 109.15. | 19 September 2019

19 September 2019, USD/JPY

Look for buy positions above 107.65.

Wave Analysis

Just as in the cable, nothing much appears to be happening on this pair. After an impulsive move to the upperside, the US Dollar corrected itself to the lowerside but is still above the upper trendline. As long as the price remains above this trendline, we encourage holding onto buy positions. The idea is to buy the continuation of both the impulsive waves(v) and 5 and should break above 109.15 towards 112.10 or even higher. This view can only be invalidated in case the price breaks below 107.45, if this is the case, then further momentum to the lowerside is expected.

Trade Recommendations:

Wait for buy positions towards 109.15.

Bob Stan
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