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We're sellers towards the lower trendline.

We're sellers towards the lower trendline. | 05 October 2021

05 October 2021, USD/JPY

We're sellers towards the lower trendline.

Wave Analysis

During the past few days, the US Dollar bounced off from the immediate upper trendline, and is currently heading to the lowwerside. We expect the current bearish price rally to be the continuation of the last impulsive wave (c) to the lowerside but should not go beyond the immediate trendline. If the price breaks below this trendline, then we will be looking for a possible momentum much lower towards 107.464 and may breakout much lower.

Trade Recommendations:

We're sellers towards the lower trendline.

Bob Stan
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