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Wait for a rebuy from around 104.927 towards 110.00.

Wait for a rebuy from around 104.927 towards 110.00. | 08 February 2021

08 February 2021, USD/JPY

Wait for a rebuy from around 104.927 towards 110.00.

Wave Analysis

Late last week, the US Dollar pulled back to the lowerside but could not go beyond 105.355. If you are on this chart, we are expecting a possible extension to the lowerside but should not go beyond 104.927. If the price should break and close below this target, then further momentum to the lowerside is expected. And on the other side, should the price break above the previous week's highest high then we will be expecting further momentum much higher with an ultimate target set at 110.00.

Trade Recommendations:

Wait for a rebuy from around 104.927 towards 110.00.

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Bob Stan
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