25 июня 2020, USD/JPY
Wave analysis
Few days ago, the US Dollar established a support around 106.240, headed straight to the upper side and is still pretty much bullish both on the daily and on the weekly charts. As long as the price remains above the Alligator indicator attached, we expect nothing but a possible momentum to the upper side. The anticipated bullish price rally is the continuation of the impulsive wave (5) to the upper side and should break above 107.540 towards 110.00 or even higher. As it is now, only buy positions looks ideal and can be recommended.
Trade Recommendations:
Remain long towards 110.00.
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