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Wait for a sell from around the upper trendline.

Wait for a sell from around the upper trendline. | 25 August 2020

25 August 2020, USD/JPY

Wait for a sell from around the upper trendline.

Wave Analysis

Instead of continuing to the lower side, the US Dollar moved to the upperside and is still pretty much bullish both on the daily and on the 4 hours, we expect the current move to the upperside to be the continuation of a correction to the upper side and should not go beyond the upper trendline, if you are looking at this chart now, wait for a bounce from the upper trendline to resell the last impulsive waves (5) and (c) to the lowerside with ultimate target set around 103.515. A break below this target may push the price much lower towards 101.610.

Trade Recommendations:

Wait for a sell from around the upper trend line.

Bob Stan
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