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Remain short towards 100.550.

Remain short towards 100.550. | 23 November 2020

23 November 2020, USD/JPY

Wave Analysis

The Us Dollar is currently in n active downtrend. While the price remains below the three Alligator lines, we are expecting further momentum to the lower side, the fact that the price is below the weekly support level 104.66 is clear sign that the price may spike much lower with an ultimate target set around 100.550. The anticipated bearish price rally is the continuation of the impulsive wave (E) to the lowerside and should breakout below 100.550 with an ultimate target set around 99.140 and could breakout much lower.

Trade Recommendations:

Remain short towards 100.550.

Bob Stan
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