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Remain short towards 100.00.

Remain short towards 100.00. | 05 January 2021

05 January 2021, USD/JPY

Remain short towards 100.00.

Wave Analysis

The us dollar is currently rallying within a declining channel formation. On this chart, we expect further momentum to the lowerside and should breakout below the lower trendline towards 100.00 and could breakout much lower. If you are on this chart, only sell positions looks ideal and can safely be recommended. However, should the price breakout and close above the upper trendline, then further momentum to the upperside is expected with an ultimate target set at 1078.555 and may extend even higher.

Trade Recommendations:

Remain short towards 100.00.

Bob Stan
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