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USDJPY. Buy a breakout above 109.027 or sell a bounce from 108.762 towards 107.050

USDJPY. Buy a breakout above 109.027 or sell a bounce from 108.762 towards 107.050 | 08 July 2019

08 July 2019, USD/JPY

USDJPY. Buy a breakout above 109.027 or sell a bounce from 108.762 towards 107.050

Wave Analysis:

On the chart attached, the key zone on this chart is 108.762-109.027, We expect the impulsive wave (iii) to breakout above this zone to pick a low risk buy order with an ultimate target at 111.610. A breakout above this level will push the price even higher. A bounce from the same will push the price to the lowerside. A breakout below 107.050 will culminate into further move to the lowerside with an ultimate target at 105.00 or even lower. Ultimately, the price should hit the low or 100 or a high of 118.00 in the next few months.
Trade Recommendations:
Buy a breakout above 109.027 or sell a bounce from 108.762 towards 107.050
Bob Stan
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