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Wait for a bounce from around 108.70 to pick a low risk buy position.

Wait for a bounce from around 108.70 to pick a low risk buy position. | 18 December 2019

18 December 2019, USD/JPY

Wait for a bounce from around 108.70 to pick a low risk buy position.

Wave Analysis

So far. not much happening on this pair, the US Dollar is still around this week's opening price. As long as the price remains above the upper trend line, we expect nothing but a possible momentum to the upperside. We're basically just waiting for a minor pullback to the lower side to pick a long term buy order towards 110.20. And on the otherside, should the price break and close below the same trendline, then this is an indication that we are continuing to the lower side towards 106.70.

Trade Recommendations:

Wait for a bounce from around 108.70 to pick a low risk buy position.

Bob Stan
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