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Remain short towards 103.974.

Remain short towards 103.974. | 02 October 2020

02 October 2020, USD/JPY

Remain short towards 103.974.

Wave Analysis

After bouncing off from the upper trendline, the US Dollar moved just a few pips to the lowerside and is still pretty much bearish. While we continue to see sustenance below the upper trendline, we expect nothing but a possible momentum to the lower side, the anticipated bearish price rally is the continuation of the impulsive wave (E) to the lowerside and should breakout below 103.974, A breakout below this level will push the price much lower with an ultimate target set around 103.380.

Trade Recommendations:

Remain short towards 103.974.

Bob Stan
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