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Sell a breakout below 107.095 towards 106.721.

Sell a breakout below 107.095 towards 106.721. | 15 July 2020

15 July 2020, USD/JPY

Sell a breakout below 107.095 towards 106.721.

Wave Analysis

Just as previously forecasted, The US Dollar bounced off from the zone 107.293-107.365, headed straight to the lower side and is still pretty much bearish both on the daily and on the weekly charts. As long as the price remains below this zone, we expect nothing but a possible momentum to the lower side, basically, we're anticipating a possible surge towards the Untested support 106.675 and may breakout even lower, As it is now, only sell positions will be ideal especially if the price can break and close above 107.365.

Trade Recommendations:

Sell a breakout below 107.095 towards 106.721.

Bob Stan
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