Sell a rebound from the upper trendline towards 102.670. | 04 ديسمبر 2020
04 ديسمبر 2020, USD/JPY
Wave Analysis
The Us dollar is currently approaching a daily support level 103.689. As long as the price is not able to close below this level, we expecting a possible rally to the upperside but should not go beyond the upper trendline. The idea is not to buy this pair, rather, I want to see a rebound from the upper trendline to pick a possible low risk sell position expecting price to continue to the lowerside and should break below 102.670. A break below this level will mean we are continuing to the lowerside towards 102.115.
Trade Recommendations:
Sell a rebound from the upper trendline towards 102.670.
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.
