Buy a bounce from 106.798. | 01 May 2020
01 May 2020, USD/JPY
Wave Analysis
Yesterday, instead of price continuing to the lower side as previously forecast, the price moved much higher and even hit our stops, we expect the price to continue to the upper side, that the current bearish price rally is the continuation of a correction to the lowerside and should not go beyond 106.798, we expect a bounce from 106.798 to mark an end to the corrective wave (b) that any bullish move after this rebound will be the continuation of the impulsive wave (c) and should break above 107.350.
Trade Recommendations:
Buy a bounce from 106.798.
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.
