Expect further momentum to the lowerside towards 104.050. | 18 أغسطس 2020
18 أغسطس 2020, USD/JPY
Wave Analysis
After bouncing off of the upper trendline, the US Dollar continued to the lowerside and is still pretty much bearish both on the daily and on the weekly charts. As it is now, we are expecting a possible momentum to the lowerside and should break beyond 104.440 towards 103.650 or even lower. And on the flip side, should the price breakout above the upper trendline, then this will be a good place to consider a possible long term buy position expecting price to continued much higher towards 109.590.
Trade Recommendations:
Expect further momentum to the lowerside towards 104.050.
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.
