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We're buyers towards 140.

We're buyers towards 140. | 29 August 2022

29 August 2022, USD/JPY

Wave Analysis:

During the previous trading weeks, we saw the US Dollar pullback to the lowerside and broke below 23.6 % fib level but could not reach 38.22% fib level. On this chart, we are in a bullish trend, however, we need to see a clear end of a retracement especially around 50.0% fib level to pick a possible long term buy position. The anticipated bullish price rally is the continuation of the lat impulsive wave v and should see the price go straight towards 140.80 or even higher.

Trade Recommendations:

We're buyers towards 140.

Bob Stan
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