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Remain short towards 100.00.

Remain short towards 100.00. | 31 July 2020

31 July 2020, USD/JPY

Remain short towards 100.00.

Wave Analysis

During the previous trading day, the impulsive wave (v) continued to he lower side and is still pretty much bearish both on the daily and on the weekly charts. While the price is held below the Alligator indicator attached, we expect nothing but a possible momentum to the upper side, the idea to wait for a pullback to the upper side to pick a low risk sell position. Ideally the best place to consider a buy from is when the price gets towards 104.809 with your take profit fixed around 100.00 and may head much lower.

Trade Recommendations:

Remain short towards 100.00.

Bob Stan
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