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Wait for a retracement towards 106.940 to pick a sell.

Wait for a retracement towards 106.940 to pick a sell. | 26 August 2019

26 August 2019, USD/JPY

Wait for a retracement towards 106.940 to pick a sell.

Wave Analysis

The US Dollar is currently trading within the declining channel formation. As long as the price remains within this shape formation, we expect nothing but a possible momentum to the lowerside. The anticipated bearish price rally is the continuation of the anticipated bearish price rally is the continuation of the impulsive wave (v) to the lowerside and should breakout below 104.285 towards 100.00 or even lower but should not go below 100. As it is, we're likely to see a retracement back towards 106.940.

Trade Recommendations:

Wait for a retracement towards 106.940 to pick a sell.

Bob Stan
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