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Sell USDJPY towards 107.75.

Sell USDJPY towards 107.75. | 09 December 2019

09 December 2019, USD/JPY

Sell USDJPY towards 107.75.

Wave Analysis

On Friday last week, US Dollar rallied to the lower side after breaking below the supportive trendline and is still pretty much bearish both on the daily and the 4 hours chart. As long as the price remains below the supportive trendline, we expect a possible continuation of the impulsive wave c to the lowerside and should break below 108.00. This view can only be invalidated in case the price breaks and closes above the immediate trendline, if this is the case, then a move to the upperside is expected.

Trade Recommendations:

Sell USDJPY towards 107.75.

Bob Stan
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