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Sell Us Dollar towards 108.40.

Sell Us Dollar towards 108.40. | 27 December 2019

27 December 2019, USD/JPY

Sell Us Dollar towards 108.40.

Wave Analysis

Just as previously forecasted, the impulsive wave (5) could not break above 109.60. We expect the bounce from 109.60 to have marked an end to the impulsive wave (5), that the current bearish price rally is the continuation of a corrective wave count and could see the price continue even lower towards 109.60. This view remains true as long as the price is held below 109.60. Break above 109.60 will mean we are continuing to the upper side with the next ideal take profit set at 111.00.

Trade Recommendations:

Sell Us Dollar towards 108.40.

Bob Stan
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