On the sidelines | 30 Agosto 2018
30 Agosto 2018, USD/JPY
Wave Analysis
Earlier the previous day, the US Dollar went above the upper trendline acting as a resistance to the falling channel formation. This is a sign that the bulls are taking a bit of control, however, instead of looking for a long position now, we're waiting for a clear breakout above 112.155 to confirm a possible rally further upwards. You could buy a breakout above 112.155 or wait for a double top formation around 113.430 to pick a short position. According to the chart above, only a breakout below 109.510 to pick a short position.
Trade Recommendations:
On the sidelines
101% Double the volume
!Attention!
All bonus participates in drawdown!
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
