Wait fior a pullback to pick a low risk buy position with an ultimate target at 109.607. | 08 Maret 2021

08 Maret 2021, USD/JPY

Wait fior  a pullback to pick a low risk buy position with an ultimate target at 109.607.

Wave Analysis

Last week along, the US Dollar moved steeply to the upperside and even went above our target set at 107.924. As as result of this move, the US Dollar gained around 2016 points. As it is now, we are still upwards. We're waiting for a correction of the last impulsive wave (5) to the lowerside before we continue to the upperside. If you are looking at this chart now, wait for 50% pullback to pick a low risk buy position. Our expectation is that the price should continue to the upperside and may break and close above 109.607. A break above this level will push the price much higher.

Trade Recommendations:

Wait fior a pullback to pick a low risk buy position with an ultimate target at 109.607.

Bob Stan
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