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Look for low risk sell positions with an ultimate target set around 104.160.

Look for low risk sell positions with an ultimate target set around 104.160. | 20 October 2020

20 October 2020, USD/JPY

Look for low risk sell positions with an ultimate target set around 104.160.

Wave Analysis

On this chart, we're eyeing a possible bearish price rally towards 104.180. If the price breaks and closes below this level, then further momentum to the lower side is expected. And on the flip side, should the price breakout and close above the zone 105.582-105.415, then we will be expecting a possible bullish price rally but should not go beyond 106.175. A breakout above this level will the price much higher with an ultimate target set around 107.185. As it is now, look for sell positions.

Trade Recommendations:

Look for low risk sell positions with an ultimate target set around 104.160.

Bob Stan
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