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Remain long towards 108.205.

Remain long towards 108.205. | 06 July 2020

06 July 2020, USD/JPY

Wave Analysis

During the previous trading week, the US Dollar went to the upper side, as high as 108.100 but ended up closing around 107.475, As it is now, we expect nothing but a possible momentum to the upper side towards 108.205. As it is now, look for long term buy positions towards 110.00 or even higher. On the flip side, should the price break and close below 107.475, then further momentum to the lower side is expected with an ultimate target set around 106.335, First the price needs to break below 107.270.

Trade Recommendations:

Remain long towards 108.205.

Bob Stan
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