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Sell a bounce from 107.202-107.068 to pick a sell towards 106.035.

Sell a bounce from 107.202-107.068 to pick a sell towards 106.035. | 11 May 2020

11 May 2020, USD/JPY

Sell a bounce from 107.202-107.068 to pick a sell towards 106.035.

Wave Analysis

Earlier today, the us Dollar continued to the upperside but is currently approaching a resistance zone 107.068-107.202. As long as the price is held below this zone, we are waiting for a bounce from this zone to pick a long term sell order with an ultimate target around 106.035. If you are looking at this chart now, expect a possible bounce from 107.068-107.202 to pick a sell, And on the flipside, should the price break and close above 107.202, then this will be a good place to consider a long term buy order.

Trade Recommendations:

Sell a bounce from 107.202-107.068 to pick a sell towards 106.035.

Bob Stan
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