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Remain long towards 104.699.

Remain long towards 104.699. | 09 December 2020

09 December 2020, USD/JPY

Wave Analysis

The Us Dollar is currently within a range, not going above 104.699 or below 103.712. On this chart, we are waiting for a bounce from the upper resistance level to pick a sell or a bounce from the lower support to pick a buy position. Following the bounce from the support level 103.712, we're holding onto a buy position expecting price to climb much higher with the next ideal target set at 104.380 and the next target at 104.699. This view can only be invalidated in case the price breaks below 103.712.

Trade Recommendations:

Remain long towards 104.699.

Bob Stan
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