Expect sellers to dominate today | 08 May 2019
08 May 2019, USD/JPY
Wave Analysis
The current dominate trend on this pair is downwards, as long as the ADX's Minus Histogram(red) remains above the green Plus , we expect nothing but a possible momentum to the lowerside. The anticipated bearish price rally is the continuation of the impulsive wave (5) to the lowerside and should extend towards 108.254. The idea is to wait for a retracement back to the upperside to pick a low risk sell with an ultimate target at 108.254. A break below this support will push the price even lower towards 105.00.
Trade Recommendations:
We're short towards 108.00
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.
