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Wait | 20 January 2020

20 January 2020, USD/JPY

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Wave Analysis

During the previous trading day, the impulsive wave (c) continued to the upper side and is still pretty much bullish both on the daily and on the weekly charts. While the price is contained above 109.840, we expect nothing but a possible momentum to the upper side. The idea is to wait for a possible pull back to the lower side to pick a possible low risk buy position. A break above 110.320 will mean we are continuing to the upper side towards 114.00 and could continue much higher towards 118.00.

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Bob Stan
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