Waiting for a resell from 109.177. | 04 نوفمبر 2019
04 نوفمبر 2019, USD/JPY
Wave Analysis
After a tremendous momentum to the upper side, the US Dollar failed to break above 109.177-108.905. Following the bounce from this zone, we expect a possible momentum to the lowerside, basically, we expect the bounce from within 108.905*109.177 to have marked an end to the corrective three wave cycle , that the current bearish price rally is the continuation of an impulsive wave count and should break below 106.520 towards 105.04. This view can only be invalidated in case the price breaks above 109.177.
Trade Recommendations:
Waiting for a resell from 109.177.
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.
