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Wait for a low risk sell

Wait for a low risk sell | 21 November 2019

21 November 2019, USD/JPY

Wait for a low risk sell

Wave Analysis

During the previous trading, the US Dollar continued to the lowerside and even went below the supportive trendline, 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 to the lowerside and could see the price break below 108.20 towards 106.80. This view can only be invalidated in case the price moves up and closes above the same trendline, if this is the case, then a momentum to the upperside is expected.

Trade Recommendations:

Wait for a low risk sell around the immediate trendline.

Bob Stan
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