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Remain long or wait and buy a sustained move above 107.8976, with an ultimate target around 108.570.

Remain long or wait and buy a sustained move above 107.8976, with an ultimate target around 108.570. | 16 April 2020

16 April 2020, USD/JPY

Wave Analysis

Earlier today, the impulsive wave (5) continued significantly to the upper side and even went above the previous day's highest high. As long as the price sustains a move above the previous day's highest high, we recommend looking for long term buy orders with an ultimate target around 108.570. The anticipated bullish price rally is the continuation of the impulsive wave (5) and should break above the upper trend line with an ultimate target around 108.570. At this point, only buy positions looks ideal and can safely be recommended.

Trade Recommendations:

Remain long or wait and buy a sustained move above 107.8976, with an ultimate target around 108.570.

Bob Stan
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