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Wait | 20 November 2019

20 November 2019, USD/JPY

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Wave Analysis

During the previous trading day, the US Dollar attempted to break below the supportive trendline but has just pulled back above the same trendline. The fact that the price did not clearly remain below this trendline could be a possible sign that there could still be buyers. On the 4 hours attached, We are waiting for a clear bounce from this trendline to pick a long term buy order. And on the Flip side, should the price break and close below this trendline, then we will expect further momentum to the lower side with an ultimate target at 107.90.

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Bob Stan
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