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Remain long towards 104.961.

Remain long towards 104.961. | 02 November 2020

02 November 2020, USD/JPY

Remain long towards 104.961.

Wave Analysis

Last week, the US dollar bounced off from the zone 104.153-104.094, headed straight to the upperside and is still pretty much bullish both on the daily and on the weekly charts. While the price sustenance the bounce from this zone, we expect nothing but a possible momentum to the upperside. The anticipated bullish price rally is the continuation of the impulsive wave (c) to the upperside and should break above 104.961 towards 105.690 or even higher,. On this chart, only buy positions looks ideal and can be recommended.

Trade Recommendations:

Remain long towards 104.961.

Bob Stan
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