Wait for a possible buy from 104.459. | 19 Februari 2021

19 Februari 2021, USD/JPY

Place a pending buy limit order at 105.489 stoploss below 104.459 and take profit at 107.948.

Wave Analysis

The US dollar rallied to the lowerside and is currently slightly below 105.850. We expect this bearish move to be a corrective wave count and should not break below 104.459-104.302. If you are looking at this chart right now, remain on the sidelines, alternatively, place a pending buy limit order at 104.459 with your stoploss below 102.490 and take profit at 107.948. If the price breaks below 104.302, then this will be a good place to consider a possible long term sell position with an ultimate target at 102.490.

Trade Recommendations:

Wait for a possible buy from 104.459.

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Bob Stan
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