Wait for a bounce from 107.800 to pick a buy. | 24 July 2019

24 July 2019, USD/JPY

Wave Analysis

Earlier today, the US Dollar went below the supportive trendline. As long as the price remains below this trendline, I expect nothing but a possible momentum to the lowerside, the anticipated bearish price rally is the continuation of a corrective three wave cycle but should not go beyond 108.025, in case the price breaks below this level, then I'll expect further momentum to the lowerside towards 107.800. A bounce from 108.025 will attract a buy, the next best place to buy from is 107.800.

Trade Recommendations:

Wait for a bounce from 107.800 to pick a buy.

Bob Stan
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