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Look for buy positions towards 107.015.

Look for buy positions towards 107.015. | 13 August 2020

13 August 2020, USD/JPY

Wave Analysis

the US dollar bounced off from the dynamic formed by the Alligator indicator attached. We expect this bounce to be an end to the corrective wave (iv) to the upper side and the continuation of the impulsive wave (v) to the upper side and should break above 107.015 towards 110.00 or even higher. And on the flip side, should the price break and close below the blue line, then we may consider a temporary sell order towards 106.00 or even lower. As it is now, we are buyers on this chart.

Trade Recommendations:

Look for buy positions towards 107.015.

Bob Stan
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