Remain with long term buy towards 109.818. | 04 February 2020
04 February 2020, USD/JPY
Wave Analysis
During the previous trading day, instead of continuing to the lower side, the Us dollar pulled back to the upper side and is still pretty much bullish both on the daily and on the weekly charts. As long as the price remains above the alligator trend indicator, we expect nothing but a possible momentum to the upper side the anticipated bullish price rally is the continuation of an impulsive wave count and should break beyond 109.180 towards 109.819. This view can only be invalidated in case the price breaks below 108.370.
Trade Recommendations:
Remain with long term buy towards 109.818.
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.
