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Remain short towards the lower trendline.

Remain short towards the lower trendline. | 16 December 2020

16 December 2020, USD/JPY

Remain short towards the lower trendline.

Wave Analysis

Yesterday, the Us dollar rallied to the lowerside and is still pretty much bearish both on the daily and on the weekly charts. While the price remains below the inner wedge formation, we are expecting a possible rally towards the lower trendline, the idea is to look for long term sell position. If you are on this chart, keep looking for long term sell position, the anticipated bearish price rally is the continuation of an impulsive wave count and could see price break below the lower trendline towards 100.00.

Trade Recommendations:

Remain short towards the lower trendline.

Bob Stan
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