Remain long towards the upper trendline. | 27 Agosto 2020
27 Agosto 2020, USD/JPY
Wave Analysis
The US Dollar is currently rallying within an contracting wedge formation. Following the bounce from the inner supportive trendline, we took a buy position and is still holding, our expectations is that the price should continue to the upperside towards the upper trendline. This upward rally is the continuation of both the impulsive waves E and (C) to the upperside towards 106.717. And in case the price breaks out and closes above the upper trendline, then this will be a good place to consider further buy positions.
Trade Recommendations:
Remain long towards the upper trendline.
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.
