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Buy the US Dollar now with your take profit at 114.25, and the next at 117.21.

Buy the US Dollar now with your take profit at 114.25, and the next at 117.21. | 27 November 2018

27 November 2018, USD/JPY

Buy the US Dollar now with your take profit at 114.25, and the next at 117.21.

Wave Analysis

Last week's candle was a perfect bullish pin bar candle. And as we said yesterday, as long as the price remains above last week's lowest low, 112.30, we expect nothing but a possible momentum to the upper side. The long term opinion here is that the price should first break above 114.25, before a steep move towards the monthly resistance line 117.21 is seen. According to the 4 hour chart attached, only buy positions looks more ideal, but should the price go below 112.30, then we'll wait for another break below 111.80 to confirm that we're short.

Trade Recommendations:

Buy the US Dollar now with your take profit at 114.25, and the next at 117.21.

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