Remain short towards 104.160. | 21 Octubre 2020
21 Octubre 2020, USD/JPY
Wave Analysis
After struggling below the upper trendline, the US Dollar could not move any higher. While the price remains below this trendline, we are looking for a possible rally to the lowerside. The anticipated bearish price rally is the continuation of the impulsive wave (E) to the lowerside and should break beyond 104.410 towards 103.910 or even lower. If you are looking at this chart now, keep looking for long term sell positions towards the target mentioned above. On this chart, only a clear break beyond 105.582 will attract a low risk buy position.
Trade Recommendations:
Remain short towards 104.160.
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.
