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Sell a break below 106.594 towards 105.00.

Sell a break below 106.594 towards 105.00. | 19 June 2020

19 June 2020, USD/JPY

Sell a break below 106.594 towards 105.00.

Wave Analysis

During the previous trading day, there was a massive correction to the lower side but is currently approaching a support level 106.594. As it is now, we are expecting a possible break below 106.594 to pick a long term sell position with an ultimate target around 105.00. And should the price bounce off from 106.594, then this will be a good place to consider a possible long term buy position towards 107.730. If the price breaks and closes above 107.730 then this is also a good place to consider a buy position towards 109.870.

Trade Recommendations:

Sell a break below 106.594 towards 105.00.

Bob Stan
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