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Buy a bounce from the supportive trendline.

Buy a bounce from the supportive trendline. | 04 December 2019

04 December 2019, USD/JPY

Wave Analysis

Just as previously forecasted, the US Dollar rallied to the lowerside but has not broken below the supportive trendline. We expect the current bearish price rally to be a corrective wave count and may successfully close below the supportive trendline. If this is the case, then a momentum to the lowerside is expected with a ultimate target at 106.20. And on the flipside, should the price bounce off from the same trendline, then this will be an ideal place to look for a long term buy order with an ultimate target at 110.00.

Trade Recommendations:

Buy a bounce from the supportive trendline.

Bob Stan
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