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Buy a rebound from 112.804

Buy a rebound from 112.804 | 02 December 2021

02 December 2021, USD/JPY

Buy a rebound from 112.804

Wave Analysis

The US Dollar continiues to rally to the lowerside but is currently approaching a significant 4 hour support level 112.804. As long as the price does not clearly break and close below this level, we are waiting for a rebound from it to pick a possible long term buy position towards 114.67 and may extend much higher. If the price breaks and closes below 112.804, then we'll be looking for a possible long term sell position towards 111.030.

Trade Recommednations:

A rebound from 112.804 will give us the best place to consider a possible long term buy position towards 114.90 and may breakout much higher.

Bob Stan
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