Waiting for a resell from 109.177. | 04 November 2019

04 November 2019, USD/JPY

Wave Analysis

After a tremendous momentum to the upper side, the US Dollar failed to break above 109.177-108.905. Following the bounce from this zone, we expect a possible momentum to the lowerside, basically, we expect the bounce from within 108.905*109.177 to have marked an end to the corrective three wave cycle , that the current bearish price rally is the continuation of an impulsive wave count and should break below 106.520 towards 105.04. This view can only be invalidated in case the price breaks above 109.177.

Trade Recommendations:

Waiting for a resell from 109.177.

Bob Stan
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