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We're sellers towards 108.990.

We're sellers towards 108.990. | 03 August 2021

03 August 2021, USD/JPY

We're sellers towards 108.990.

Wave Analysis

After establishing a support around 109.220, the US dollar pulled back to the upperside and is still pretty much in a corrective mode. As it is on the chart attached, we are expecting further momentum to the upperside but should not go beyond 50.0% fib level, if the price should break beyond this level, then the next target is around 61.8% fib level. And in case the price breaks below the level 109.105, then further momentum to the lowerside is expected towards 108.990.

Trade Recommendations:

We're sellers towards 108.990.

Bob Stan
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