USDJPY. Sell a break below the supportive trendline towards 105.550. | 08 أغسطس 2019
08 أغسطس 2019, USD/JPY
Wave Analysis
The US Dollar is currently trading within a contracting wedge formation. As long as the price trades within this wedge formation, we're patiently waiting for either a break above or below the wedge to pick a low risk sell order. Since the daily chart is very bearish, we''re waiting for a clear breakout below the lower trendline to confirm a possible rally towards the level 105.550. A break below this level will push the price further to the lowerside with the next ideal target being 100.251.
Trade Recommendations:
Sell a break below the supportive trendline towarcds 105.550.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
