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Sell a bounce from around 105.504 towards 103.710.

Sell a bounce from around 105.504 towards 103.710. | 25 September 2020

25 September 2020, USD/JPY

Sell a bounce from around 105.504 towards 103.710.

Wave Anlysis

Yesterday, USDJPY rallied to the upperside but could not breakout above 105.505-105.387. As long as the price remains below this zone we expect nothing but a possible momentum to the lowerside. The anticipated bearish price rally is the continuation of a bearish price rally and could see price breakout below 103.710 towards 102.00 or even lower. The highest we expect price to pullback up to is along the upper trendline. Should the price breakout beyond it, then further momentum upwards is expected.

Trade Recommendations:

Sell a bounce from around 105.504 towards 103.710.

Bob Stan
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