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Remain long towards 114.20.

Remain long towards 114.20. | 07 February 2020

07 February 2020, USD/JPY

Remain long towards 114.20.

Wave Analysis

The US Dollar continued to the upper side and is still very much bullish both on the daily and on the weekly charts. As long as the columns of MACD remains above 0.0, I expect further momentum to the upper side and should break above 110.305 towards 112.512. The idea is not to look for a buy positions now, rather, wait for a pullback to the lower side then pick a low risk buy position. Conservative trader should wait or a break above 110.305 to pick a low risk buy position with their target at 114.12.

Trade Recommendations:

Remain long towards 114.20.

Bob Stan
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