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Sell a rebound from around 105.740.

Sell a rebound from around 105.740. | 29 September 2020

29 September 2020, USD/JPY

Sell a rebound from around 105.740.

Wave Analysis

After a close below the previous day's opening price, the Us dollar has now pulled back towards the previous day's highest high. While we continue to see price below the upper trendline, we are waiting for a bounce from the upper trend line to pick a low risk sell position. The idea is to wait for a bounce from the upper trend line to pick low risk sell position with an ultimate target set around 103.950. On its way downwards, the key levels to look for include 105.020, 104.310 and 103.950.

Trade Recommendations:

Sell a rebound from around 105.740.

Bob Stan
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