Remain short with an ultimate target around 104.6. | 12 Junio 2020
12 Junio 2020, USD/JPY
Wave Analysis
During the previous trading day, the US Dollar continued to the lower side and is still pretty much bearish both on the daily and on the weekly charts. As long as the price remains below the 23.6% fib level, we expect nothing but a possible momentum to the lower side, the anticipated bearish price rally is the continuation of the impulsive wave (v) and should first break below 105.00 towards the next key level 104.6. As it is now, we expect the current move to the upper side to be a correction and should not go beyond 38.2% fib level.
Trade Recommendations:
Remain short with an ultimate target around 104.6.
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.
