Look for buy positions towards 107.015. | 13 Agosto 2020
13 Agosto 2020, USD/JPY
Wave Analysis
the US dollar bounced off from the dynamic formed by the Alligator indicator attached. We expect this bounce to be an end to the corrective wave (iv) to the upper side and the continuation of the impulsive wave (v) to the upper side and should break above 107.015 towards 110.00 or even higher. And on the flip side, should the price break and close below the blue line, then we may consider a temporary sell order towards 106.00 or even lower. As it is now, we are buyers on this chart.
Trade Recommendations:
Look for buy positions towards 107.015.
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.
