wait | 20 December 2018
20 December 2018, USD/JPY
Wave Analysis
Instead of rallying to the upperside, the US Dollar traded intensely to the lowerside and an even went below the supportive trendline. If the last impulsive wave (E) should close below the supportive trendline, then this will be a good place to look for a long term short position with an ultimate target at 111.45. On the bullish side, only a rise above the same trendline will attract a long term long position towards the upper trendline. With this upwards position, the best places to look for buy positions include 113.05, 114.00 and the last at 118.00.
Trade Recommendation
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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.
