Sell USDJPY from 107.898, stoploss above 108.605, and take profit at 106.300. | 04 Julio 2019

Wave Analysis

USDJPY is currently consolidating below a significant daily resistance level 107.898. As long as the price remains below this level, we expect nothing but a possible momentum to the lowerside. The anticipated bearish price rally is the continuation of an impulsive wave count and should break below 106.630 towards 106.300 or even lower. The idea is to look for sell orders in between 107.898-107.833 with an ultimate target at 106.300 or even lower. And on th flipside , should price breakout above 107.899, then this will be a good place to look for a long term buy.

Trade Recommendations:

Sell USDJPY from 107.898, stop loss above 108.605, and take profit at 106.300.