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Wait for a buy from the supportive trendline.

Wait for a buy from the supportive trendline. | 02 July 2020

02 July 2020, USD/JPY

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Wave Analysis

Yesterday, the US Dollar moved slightly to the upper side but is still several pips below the upper trend line. I'm waiting for a possible bounce from the upper trend line to pick a possible sell position. u should the price break and close above the upper trend line, then further momentum to the upper side is expected with an ultimate target around 118.00. And on the flip side should the price break and close below the lower trend line then further momentum to the lower side is expected with an ultimate target at 102.730.

Trade Recommendations:

Wait for a buy from the supportive trendline.

Bob Stan
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