Look for buy orders towards 107.085. | 20 Agustus 2019

20 Agustus 2019, USD/JPY

Look for buy orders towards 107.085.

Wave Analysis

Yesterday, the US Dollar rallied massively to the upperside but failed to reach the 4 hour resistance level 107.085. This is a key level and as long as the price remains below it, we expect a possible rally towards it but should not breakout above. This is a good sell place, we're waiting for price to bounce off from it to pick a low risk sell order. A breakout above it will mean we're continuing upwards with the corrective three wave cycle and should not go beyond 109.210, a break above this level will push the price even higher.

Trade Recommendations

Look for buy orders towards 107.085.

Bob Stan
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