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Remain short towards 105.00.

Remain short towards 105.00. | 10 June 2020

10 June 2020, USD/JPY

Remain short towards 105.00.

Wave Analysis

The Us Dollar is currently in an active downtrend. While the price is held below the two simple moving averages, we expect further momentum to the lower side. The anticipated bearish price rally is the continuation of the impulsive wave (v) and should break below 106.00 or even lower towards 105.00. As it is now, we are waiting for long a possible pullback towards the 200 period moving average to pick a long term sell order towards 105.0. As it is now, only sell positions looks ideal, but in case the price breaks above the 200 Period MA, then we may see a move to the upper side.

Trade Recommendations:

Remain short towards 105.00.

Bob Stan
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