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Wait for a resell from 107.085.

Wait for a resell from 107.085. | 21 August 2019

21 August 2019, USD/JPY

Look for buy orders towards 107.085.

Wave Analysis

After a tremendously decline seen during the previous trading day, the US Dollar is currently pulling back to the upperside. We expect this upward rally to be the continuation of the impulsive wave (c) and should continue upwards but should not go beyond 107.085. The idea is to wait for clear rally towards 107.085 to pick low risk sell orders with ideal targets set at 105.046. In case the price breaks above 107.085, then this will be a confirmation that we're continuing to the upperside towards 109.210.

Trade Recommendations:

Wait for a resell from 107.085.

Bob Stan
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