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Rebuy USDJPY from 105.744 towards 106.286.

Rebuy USDJPY from 105.744 towards 106.286. | 08 October 2020

08 October 2020, USD/JPY

Wave Analysis

During the previous trading day, the US Dollar successfully took our SL when the price closed above the upper trendline. While the price remains above 105.744, we expect nothing but a possible momentum to the upperside. The anticipated bullish price rally is the continuation of then impulsive wave (c) to the upperside and should break above 106.286. A break above this level will push the price much higher towards 106.914. This view will only be invalidated in case the price breaks and closes below 105.744.

Trade Recommendations:

Rebuy USDJPY from 105.744 towards 106.286.

Bob Stan
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