Expect a possible a possible rally towards the lower trendline. | 03 Diciembre 2020
03 Diciembre 2020, USD/JPY
Wave Analysis
The US dollar is currently within the converging wedge formation but has just bounced off from the upper trendline. On this chart, we are looking for low risk sell positions towards the lower trendline. If the price breaks below the lower trendline then this will be a good place to look for long term sell positions. On the flipside should the price break and close above the upper trendline, then this will be a good place to consider a possible long term buy position with an ultimate target set around 108.785. A break any higher will push the price much higher.
Trade Recommendations:
Expect a possible a possible rally towards the lower trendline.
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.
