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Buy a bounce from 106.798.

Buy a bounce from 106.798. | 01 May 2020

01 May 2020, USD/JPY

Wave Analysis

Yesterday, instead of price continuing to the lower side as previously forecast, the price moved much higher and even hit our stops, we expect the price to continue to the upper side, that the current bearish price rally is the continuation of a correction to the lowerside and should not go beyond 106.798, we expect a bounce from 106.798 to mark an end to the corrective wave (b) that any bullish move after this rebound will be the continuation of the impulsive wave (c) and should break above 107.350.

Trade Recommendations:

Buy a bounce from 106.798.

Bob Stan
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