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We're buyers towards 118.90.

We're buyers towards 118.90. | 19 October 2021

19 October 2021, USD/JPY

We're buyers towards 118.90.

Wave Analysis

During the previous day, the US Dollar rallied to the upperside and is still pretty much bullish both on the daily and on the weekly charts. As it is right now, we are looking for long term buy positions, the anticipated bullish price rally is the continuation of the im impulsive wave count an should end up breaking above 114.78 towards 118.90 and will continue even higher. On the otherside, a break below the level the immediiate trendline will mean we are now heading to the lowerside. On this chart, we are in an active up trend, therefore, only buy positions looks ideal and can safely be recommended.
Trade Recommendations:
We're buyers towards 118.90.
Bob Stan
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