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Wait for a resell from 107.485

Wait for a resell from 107.485 | 09 September 2019

09 September 2019, USD/JPY

Wait for a resell from 107.485

Wave Analysis

Last week, the us Dollar corrected itself massively to the upper side but is still within the declining channel formation. While the price is contained within this shape formation, we expect to continue short withe the impulsive wave (v) and should breakout below 104.890. We expect the current bullish price rally to be the continuation of a correction wave count and should not go beyond the upper trendline where we'll be looking for a sell towards 104.890. A break below this level will push the price even lower.

Trade Recommendations:

Wait for a resell from 107.485

Bob Stan
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