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Wait for a sell from the upper trendline.

Wait for a sell from the upper trendline. | 02 Diciembre 2020

02 Diciembre 2020, USD/JPY

Sell a break below 103.910 with an ultimate target atv 102.605.

Wave Analysis

During the previous trading day, the US Dollar rallied to the upperside but is still several pips below the upper trendline, on this chart, we are expecting a possible rally towards this trendline to pick a possible long term sell position. The anticipated bearish price rally is the continuation of an impulsive wave count and could see price break below the lower trendline with the next ideal target set around 102.605. If the price breaks below this level, then further momentum to the lowerside is expected.

Trade Recommendations;

Wait for a sell from the upper trendline.

Bob Stan
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