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Waiting for a low risk buy opportunity.

Waiting for a low risk buy opportunity. | 29 Octubre 2019

29 Octubre 2019, USD/JPY

Sell a bounce from the upper trendline towards 108.345.

Wave Analysis

During the previous trading day, the us Dollar broke out above the upper trendline and is still above this trendline. As long as the price is contained above this level, we expect nothing but a possible momentum to the upperside, this view can only be invalidated in case the price breaks again below the same trendline, if this is the case, then a momentum towards 108.345. And should price break below this trendline, or 108.345, then this will confirm that we're continuing to the lowerside with an ultimate target at 107.220.

Trade Recommendations:

Waiting for a low risk buy opportunity.

Bob Stan
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