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we're short | 29 August 2018

29 August 2018, USD/JPY

Wave Analysis

The US Dollar is still within the falling channel formation. As long as the Price remains within the falling channel formation, I expect a possible momentum to the lower side. The anticipated bearish price rally is the continuation of the impulsive wave (c) to the lower side and should break below the lower trend line but should not go lower than 109.25. This view can only be invalidated in case the price breaks above the upper trend line, if this is the case, then further movements to the upper side is expected.

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we're short

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