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Remain long towards 110.00.

Remain long towards 110.00. | 28 November 2019

28 November 2019, USD/JPY

Wave Analysis

The US Dollar is currently trading within an ascending channel formation. As long as the price remains within this shape formation, we expect nothing but a possible momentum to the upperside, the anticipated bullish price rally is the continuation of the impulsive wave (5) to the upperside and should breakout above 109.80 or even higher. This view can only be invalidated in case the price rallies lower and closes below the supportive trendline, if this is the case, then a momentum to the lowerside is expected with an ultimate target at 105.00.

Trade Recommendations:

Remain long towards 110.00.

Bob Stan
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