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Buy the US Dollar towards the upper trendlline.

Buy the US Dollar towards the upper trendlline. | 06 November 2019

06 November 2019, USD/JPY

Buy the US Dollar towards the upper trendlline.

Wave Analysis

Few days ago, the US Dollar bounced off from the supportive trendline headed to the upperside and is still pretty much bullish both on the daily and on the weekly charts. As long as the price is contained above 108.90, we expect a possible continuation of the impulsive wave (V) to the upperside and could break above the upper trendline. This view can only be invalidated in case the price again moves down and even breaks below 108.90, if this is the case, then a momentum to the lower side is expected.

Trade Recommendations:

Buy the US Dollar towards the upper trendline.

Bob Stan
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