STRATEGY: Bullish, against .9868, target 1.07
The rally through 1.0051 strongly indicates that a low is in place at .9647. Similar to the EURUSD (but as the inverse), the rally from .9647 is probably a larger 4th wave. Expectations are for the rally to reach the 1.0730-1.1121 zone. Also like the EURUSD, the rally from .9647 is likely a series of 1st and 2nd waves. Under this count, the rally from .9868 is wave iii of 3 of A.