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Remain long towards 107.992.

Remain long towards 107.992. | 28 August 2020

28 August 2020, USD/JPY

Remain long towards 107.992.

Wave Analysis

Earlier today, the US Dollar rallied to the upperside and is now above the upper trendline. As long as we continue to see sustenance above this trendline, we expect nothing but a possible momentum to the upperside with an ultimate target around 107.992. If the price breaks and closes above 107.992, then this will be a good place to consider a possible ,long term buy position towards 109.295. And on the flipside, should the price breaks again and close below the same trendline, then we will be looking for a long term sell position.

Trade Recommendations:

Remain long towards 107.992.

Bob Stan
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