Wait for a sell from around 105.268.

17 September 2020, USD/JPY

Wait for a sell from around 105.268.

Wave Analysis

Overal, USDJPY is in an active downtrend. As long as the price remains below the three Simple moving Averages, we expect nothing but a possible momentum to the lowerside, the anticipated bearish price rally is the continuation of the impulsive wave (5) to the lowerside. If the price breaks and closes below 104.840, this will be a good place to consider a possible long term sell position. Conservative traders should wait for a sell from around 105.268. or around 105.581. Or wait and sell a break below 104.840 with their target at 103.00.

Trade Recommendations:

Wait for a sell from around 105.268.

Graham Osano
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