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Wait for a low risk buy position.

Wait for a low risk buy position. | 08 June 2020

08 June 2020, USD/JPY

Wave Analysis

The US Dollar dollar continued to move to the upper side after breakout above the upper trend line but is currently pulling back, we expect the bearish rally which started earlier today to be the continuation of a correction to the lower side but should not go beyond 108.205. As long as the price remains above the two simple moving averages, I expect nothing but a possible momentum to the upper side, the anticipated bullish price rally is the continuation of the last impulsive wave (v) and should break beyond 109.915 towards 110.00 or even higher.

Trade Recommendations:

Wait for a low risk buy position.

Bob Stan
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