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Wait for a sell from 107.040 with sl above 107.430 and take profit at 106.120.

Wait for a sell from 107.040 with sl above 107.430 and take profit at 106.120. | 30 April 2020

30 April 2020, USD/JPY

Wait for a sell from 107.040 with sl above 107.430 and take profit at 106.120.

Wave Analysis

The US Dollar is showing signs of sustaining the move below 107.040. As long as the price remains below the zone 107.040, we expect nothing but a possible momentum to the lowerside, the anticipated bearish price rally is the continuation of the impulsive wave (E) to the lowerside and should break below 106.450 towards 105. As it is now, we are expecting a possible pullback towards 107.040 to pick a low risk sell order with stoploss above 107.430 and a take profit at 105.0.

Trade Recommendations:

Wait for a sell from 107.040 with sl above 107.430 and take profit at 106.120.

Bob Stan
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