Buy a bounce from 107.341, or wait and sell a bounce from 108.019. | 22 April 2020

22 April 2020, USD/JPY

Buy a bounce from 107.341, or wait and sell a bounce from 108.019.

Wave Analysis

The Us dollar is currently in a range not going above the hourly resistance level 108.019 or below the hourly support level 107.341. While the price continues to osscilate within this range, we choose to remain on the sidelines, we are waiting for as a bounce from 108.019 to pick a sell or a bounce for 107.341 to pick a buy. A sustained move above 108.019 will attract a possible buy towards 108.600 while a sustained move below 107.341 will attract a long term sell order towards 106.985.

Trade Recommendations:

Buy a bounce from 107.341, or wait and sell a bounce from 108.019.

Bob Stan
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