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Sell a bounce from 108.44 with your take profit at 104.77.

Sell a bounce from 108.44 with your take profit at 104.77. | 07 January 2020

07 January 2020, USD/JPY

Sell a bounce from 108.44 with your take profit at 104.77.

Wave Analysis

During the previous trading day, the corrective wave (b) continued to the upper side but should not go beyond 100.44. As long as the price remains below 109.44, we expect nothing but a possible momentum to the lowerside, the anticipated bearish price rally is the continuation of the impulsive wave (c) to the lowerside and should break below 104.77. A break below this level could push the price even lower. This view can only be invalidated in case the price breaks and closes above 108.44.

Trade Recommendations:

Sell a bounce from 108.44 with your take profit at 104.77.

Bob Stan
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