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Remain long for a short term with your take profit at 109.813.

Remain long for a short term with your take profit at 109.813. | 29 January 2020

29 January 2020, USD/JPY

Wave Analysis

During the previous trading day, the impulsive wave (5) ended a bit earlier than expected and could not go below 108.760. As long as the price remains above the Indicator attached, we recommend looking for long term buy orders towards 109.813. A break above this level will push the price much higher towards 110.250. The anticipated bullish price rally is the continuation of a corrective three wave cycle and could see price continue to upper side with an ideal take profit at 109.813. On this chart, only a break and close below 108.760 will attract a sell.

Trade Recommendations:

Remain long for a short term with your take profit at 109.813.

Bob Stan
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