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Only sell a breakout below 110.36

Only sell a breakout below 110.36 | 20 August 2018

20 August 2018, USD/JPY

Only sell a breakout below 110.36

Wave Analysis:
The Us dollar is still above the 4 hour support level 110.36. As long as the price remains above this level, we choose to remain on the sidelines, but should the price break below this level, then this will be a good place to sell the impulsive wave (c) to the lower side and break below the 108 handle. This view can only be invalidated in case the price breaks above 113.25, this being the case, we’ll expect further rally to the upper side with the next ideal level being 114. At the Moment I'm only looking for short positions.
Trade Recommendations:
Only sell a breakout below 110.36

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