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Look for long term sell positions towards 102.720.

Look for long term sell positions towards 102.720. | 25 November 2020

25 November 2020, USD/JPY

Wave Analysis

Yesterday, nothing much happened on this pair, the US Dollar failed to break beyond 104.542 but at the same time failed to break above 104.80. On this chart, while the price is held below the zone 104.542-104.450, we expect nothing but a possible momentum to the lowerside. The anticipated bearish price rally is the continuation of the impulsive wave (E) to the lowerside and should break below the lower trendline but must not go beyond 102.720. If you are on this chart now, keep looking for sell positions.

Trade Recommendations:

Look for long term sell positions towards 102.720.

Bob Stan
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