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Remain short towards 104.070.

Remain short towards 104.070. | 06 August 2020

06 August 2020, USD/JPY

Remain short towards 104.070.

Wave Analysis

During the previous trading day, The US dollar continues to rally to the lower side after bouncing off from 105.996, we expect this downward rally to be the continuation of the impulsive wave (E) to the lower side and should break below 104.470 or even lower towards 100.00. And should the price break above 105.996, then we may be expecting a possible momentum to the upper side but should not break above 107.300 a break above this level will push the price much higher.

Trade Recommendations:

Remain short towards 104.070.

Bob Stan
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