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Sell a bounce from 108.905-109.177 with your take profit at 106.520.

Sell a bounce from 108.905-109.177 with your take profit at 106.520. | 05 November 2019

05 November 2019, USD/JPY

Sell a bounce from 108.905-109.177 with your take profit at 106.520.

Wave Analysis

Instead of continuing to the lowerside, the US Dollar rallied back to the upper side and is currently approaching a weekly resistance zone 108.905-109.177. This is a key zone and while the price is contained below this zone, we expect nothing but a possible momentum to the lowerside. But should the price break out above this zone, then we'll wait for a pullback to the just broken zone to pick a long term buy order towards 112.480, a breakout above this zone could push the price even higher towards 114.0.

Trade Recommendations:

Sell a bounce from 108.905-109.177 with your take profit at 106.520.

Bob Stan
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