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Buy a bounce from 106.960.

Buy a bounce from 106.960. | 21 April 2020

21 April 2020, USD/JPY

Wave Analysis

The US Dollar is slowly approaching our support level 106.960. This s a key level and while the price is not able to to clearly break below it, we choose to wait for a possible bounce from it to pick a buy. A break below 106.960 will mean we are continuing to the lower side with an impulsive wave count but should not go below the zone 105.263-104.940, a break and close below this zone will mean we are continuing to the lower side with an ultimate target around 101.545. As it is now, a bounce from 106.960 will attract a buy.

Trade Recommendations:

Buy a bounce from 106.960.

Bob Stan
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