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Sell the US Dollar with your take profit at 106.90.

Sell the US Dollar with your take profit at 106.90. | 12 December 2019

12 December 2019, USD/JPY

Wait for a low risk sell order.

Wave Analysis

The US Dollar continues to consolidate even after break below the supportive trendline. As long as the price remains below immediate trend line, we expect a possible continuation of the corrective three wave cycle and could see price break below 108.00 towards 106.80. And on the flip side, should the price rally to the upper side, then we're going to wait for a break above the same trendline to pick a long term buy order towards 110.10. As it is now, we either remain flat or we look for sell order.

Trade Recommendations:

Sell the US Dollar with your take profit at 106.90.

Bob Stan
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