03 октября 2019, USD/JPY
Wave Analysis
After a drastic decline seen today, the US Dollar is currently correcting itself to the upperside. We expect the current bullish price rally to be the continuation of the corrective wave (iv) but should not go beyond 107.700. As it is on this chart, we recommend waiting for an end to the corrective wave (iv) to end so that we can sell the last impulsive wave (v) to the lowerside. The idea is to have a pending sell limit around 107.700, or to have a pending sell stop below 107.040 with take profit at 106.
Trade Recommendations:
Waiting for a possible sell from 107.700.
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