Buy a bounce from the supportive trendline. | 14 August 2019
14 August 2019, USD/JPY
Wave Analysis
After a bullish spike seen during the previous trading day, the US Dollar is currently consolidating within a converging wedge formation. On this chart, we're patiently waiting for a break above the upper trendline or a bounce from the supportive trendline to pick a buy with an ideal take profit at 107.005. Should price go above this level, then this will be a good place to look for a long term buy order towards 110.00 or even higher. ON the flip side, only a break below 106.255 to pick a sell.
Trade Recommendations:
Buy a bounce from the supportive trendline.
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.
