Expect further momentum to the upperside towards the upper trendline. | 11 أغسطس 2020
11 أغسطس 2020, USD/JPY
Wave Analysis
Currently, the US Dollar is above 106.079. As long as the price is held above 106.079, we expect nothing but a possible momentum to the upper side, the anticipated bullish price rally is the continuation of the corrective wave (D) to the upper side and should not go beyond the upper trend line. The idea is to wait for a bounce from the upper trend line to pick a low risk sell position. The anticipated bearish price rally is the continuation of the impulsive wave (E) to the lower side and should break below 103.740.
Trade Recommendations:
Expect further momentum to the upper side towards the upper trend line.
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.
