Sell a bearish break below 106.689. | 07 اكتوبر 2019
07 اكتوبر 2019, USD/JPY
Wave Analysis
On 3rd of October, the US Dollar established a support around 106.689 and is still pretty much above this line. As long as the price does not go above 107.107 or below 106.689, we recommend only trading reversals. A reversal from 107.107 will attract a sell while a reversal from 106.689 will attract a buy. However, in case the price breaks any of these levels, 107.107, 106.689, then this will be a good place to look a breakout trade. As it is on the hourly chart, we expect a break below 106.689 to resell the last impulsive wave (v) towards 105.21.
Trade Recommendations:
Sell a bearish break below 106.689.
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.
