08 August 2018, USD/JPY
Wave Analysis
The previous day's candle was a perfect bullish pin bar candle above a key level 111.040. As long as the price is contained above this level, this is a potential buy position. The anticipated buy position should be the continuation of the impulsive wave (c) to the upper side and should break above last month's highest high, but should not go beyond 114.00. This view can only be rendered futile in case the price breaks below 111.04, and even then, we'll need a confirmation that the price will continue downwards.
Trade Recommendations:
We're looking for a long position.
101% Double the volume
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