Wait for a possible buy signal from around 106.675. | 16 Julio 2020
16 Julio 2020, USD/JPY
Wave Analysis
During the previous trading day the US Dollar continued to the lower side and even hit the verified support level 106.675. As long as the price does not clearly break and close below this level, we are waiting for a bounce from this level to pick a possible long term buy position towards 107.365-107.293. And on the other side, should the price break below the level 106.675, then this could be a good sign that we are continuing to the lower side towards 105.00 and could breakout much lower.
Trade Recommendations:
Wait for a possible buy signal from around 106.675.
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.
