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Buy a break above 108.930 with your first take profit at 110.00.

Buy a break above 108.930 with your first take profit at 110.00. | 17 October 2019

17 October 2019, USD/JPY

Wave Analysis

After reaching the highs of 108.930, the US Dollar is currently consolidating within a contracting shape formation. This is a possible sign that we're continuing to the uperside. And if the price can break above the upper trendline acting as the top to the contracting shape formation, we expect nothing but a possible momentum to the upperside. The anticipated bullish price rally is the continuation of the impulsive wave (v) to the upperside and should break above 108.930 towards 110.00 or even higher.

Trade Recommendations:

Buy a break above 108.930 with your first take profit at 110.00.

Bob Stan
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