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Remain short towards the lower trendline.

Remain short towards the lower trendline. | 01 Octubre 2020

01 Octubre 2020, USD/JPY

Remain short towards the lower trendline.

Wave Analysis

Yesterday, the Us dollar barely touched the upper trendline before reversing to the lowerside. As long as the price remains below the upper trendline, we expect nothing but a possible momentum to the lowerside, the anticipated bearish price rally and should breakout below 103.974 towards 103.380. On its way to the lowerside, the key levels to look for include 105.150, 104.440 and 103.974. This view will only be invalidated ion case the price breaks and closes above the upper trendline.

Trade Recommendations:

Remain short towards the lower trendline.

Bob Stan
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