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