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Sell a bounce from the upper trendline.

Sell a bounce from the upper trendline. | 23 Septiembre 2020

23 Septiembre 2020, USD/JPY

Wave Analysis

Previously, the price rallied to the lowerside, however, earlier this week, the price moved to the upperside but and even went abobe the 100 Period moving average but is still below the 200 Period Moving Average, while we continue to see price below the 200 Period moving average, we expect nothing but a possible momentum to the lowerside. The anticipated bearish price rally is the continuation of the impulsive five wave cycle and could see price break beyond 103.615 towards 100.00 or even lower.

Trade Recommendations:

Sell a bounce from the upper trendline.

Bob Stan
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