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USDJPY. We’ re looking waiting for retracements back towards 107.890 to pick a long term sell order.

USDJPY. We’ re looking waiting for retracements back towards 107.890 to pick a long term sell order. | 24 June 2019

24 June 2019, USD/JPY

USDJPY. We’ re looking waiting for retracements back towards 107.890 to pick a long term sell order.

Wave Analysis:

Few days ago, the cable rallied intensely to the lowerside and even went below 107.890, As long as the price remains below this level, we’re looking for a long term sell order. The anticipated bearish price rally is the continuation of the impulsive wave (E) to the lowerside and should breakout below 106.94 towards 100.00 or even lower. Conservative traders should wait for retracements towards 107.898 to pick a low risk sell order. A breakout above 107.898 to pick a long term buy to the upperside.

Trade Recommendations:

We’ re looking waiting for retracements back towards 107.890 to pick a long term sell order.

Bob Stan
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