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We're sellers towards 112.90

We're sellers towards 112.90 | 05 November 2021

05 November 2021, USD/JPY

We're sellers towards 112.90

Wave Analysis:

Yesterday, the Us Dollar rallied to the lowerside and even ended up closing as a strong sell candle. As long as the price remains below the previous day's opening price, we expect nothing but a possible momentum to the lowerside, the anticipated bearish price rally is the continuation of an impulsive wave count and could see the price break above the previous day's lowest low towards 112.000 and may extend much lower. On the flipside, only a clear break above the previous day's highest high will attract a possible buy position.
Trade Recommendations:
We're sellers towards 112.90
Bob Stan
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