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USDJPY. Look for buy orders towards 109.05

USDJPY. Look for buy orders towards 109.05 | 15 July 2019

15 July 2019, USD/JPY

USDJPY. Look for buy orders towards 109.05

Wave Analysis

The US Dollar is currently bouncing from the supportive trendline, we expect this bounce to mark and end to the corrective wave (b), that any clear moves to the upperside will be the continuation of the impulsive wave (E) to the upperside and should break above 108.45 towards the upper trendline. This view can only be invalidated in case the price breaks below the supportive trendline, if this is the case, then a bearish rally towards 107.25 or even lower is expected, then idea to wait for retracement back towards 107.85 to pick a low risk buy.

Trade Recommendations:

Look for buy orders towards 109.05

Bob Stan
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