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Expect further momentum to the lowerside towards 104.050.

Expect further momentum to the lowerside towards 104.050. | 18 August 2020

18 August 2020, USD/JPY

Expect further momentum to the lowerside towards 104.050.

Wave Analysis

After bouncing off of the upper trendline, the US Dollar continued to the lowerside and is still pretty much bearish both on the daily and on the weekly charts. As it is now, we are expecting a possible momentum to the lowerside and should break beyond 104.440 towards 103.650 or even lower. And on the flip side, should the price breakout above the upper trendline, then this will be a good place to consider a possible long term buy position expecting price to continued much higher towards 109.590.

Trade Recommendations:

Expect further momentum to the lowerside towards 104.050.

Bob Stan
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