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We're waiting to rebuy from 107.898/

We're waiting to rebuy from 107.898/ | 02 July 2019

02 July 2019, USD/JPY

We're waiting to rebuy from 107.898/

Wave Analysis

Yesterday, the US Dollar gapped to the upperside and is still rallying above 107.890. As long as the price remains above 107.890, we expect nothing but a possible momentum. The fact that the price rose above 107.890 is a clear sign that we're heading to the upperside, thus, we're waiting for retracements to the lowerside to pick low risk buy orders with an ultimate target at 109.590. A breakout above this level will push the price further to the upperside with the next ideal target being 112.225.

Trade Recommendations:

As long as the price remains above 107.898, we're looking for long term buying opportunities towards 112.225.

Bob Stan
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