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Look for a possible sell position towards the supportive trendline.

Look for a possible sell position towards the supportive trendline. | 07 July 2020

07 July 2020, USD/JPY

Look for a possible sell position towards the supportive trendline.

Wave Analysis

Yesterday's daily candle closed as a bearish pin bar. As long as the price remains below the level 107.518, we expect nothing but a possible momentum to the lower side towards the supportive trend line, if the price bounces off from this trend line, then this will be a good place to look for a buy positions. And should the price break and close above 107.518, then this will be a good place to consider a possible long term buy position with an ultimate target around the upper trend line.

Trade Recommendations:

Look for a possible sell position towards the supportive trend line.

Bob Stan
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