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Look for low risk buy positions now with your target at 104.865.

Look for low risk buy positions now with your target at 104.865. | 29 October 2020

29 October 2020, USD/JPY

Wave Analysis

During the previous day, the US Dollar failed to break below the supportive trendline. Instead, the price bounced off from this level but is yet to move to the upperside. While then price remains above this level, we are looking for long term buy positions. The anticipated bullish price rally is the continuation of a corrective wave count and could see price breakout above the 104.865 but should not go beyond the upper trendline. If you are on this chart now, keep looking for long positions along as the price is held above the lower trendline.

Trade Recommendations:

Look for buy positions above the lower trendline.

Bob Stan
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