Wait for low risk sell positions with an ideal target at 103.880. | 23 اكتوبر 2020
23 اكتوبر 2020, USD/JPY
Wave Analysis
During the previous trading day, the US Dollar broke below the inner supportive trendline and is still pretty much below this level. As it is now, we are looking for long term sell positions. The anticipated bearish price rally is the continuation of the impulsive wave (E) to the lowerside and should breakout below the lower supportive trendline towards 103.530. If you are looking at this chart now, keep looking at low risk sell positions expecting price to rebound from the immediate upper trendline with an target at 103.880.
Trade Recommendations:
Wait for low risk sell positions with an ideal target at 103.880.
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.
