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Remain short towards 104.139.

Remain short towards 104.139. | 16 November 2020

16 November 2020, USD/JPY

Wave Analysis

Last week on Friday, the US Dollar rallied significantly to the lower side and is still pretty much bearish. As long as the price remains below the upper trend line, we expect nothing but a possible momentum to the lower side. The anticipated continuation of to the lower side is mere correction and may not stretch below 104.139 If the price breaks and closes below 104.139, then we will be looking for long term sell positions with an ultimate target set around 103..350 and could breakout much lower.

Trade Recommendations:

Remain short towards 104.139.

Bob Stan
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