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USDJPY. Look for sell orders towards 107.235.

USDJPY. Look for sell orders towards 107.235. | 18 July 2019

18 July 2019, USD/JPY

USDJPY. Look for sell orders towards 107.235.

Wave Analysis

Instead of continuing upwards with the previous impulsive wave (E), the US dollar rallied to the lowerside and even broke out below the lower trendline and is still pretty much bearish both on the daily and the weekly charts, as long as the price remains below this trendline, we expect nothing but a possible momentum to the lowerside. The anticipated bearish price rally is the continuation of an impulsive wave count and should break below 107.235 or even lower. Buy orders are risky for now.

Trade Recommendations:

Look for sell orders towards 107.235.

Bob Stan
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