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Sell a rebound from the upper trendline towards 102.670.

Sell a rebound from the upper trendline towards 102.670. | 04 Diciembre 2020

04 Diciembre 2020, USD/JPY

Sell a rebound from the upper trendline towards 102.670.

Wave Analysis

The Us dollar is currently approaching a daily support level 103.689. As long as the price is not able to close below this level, we expecting a possible rally to the upperside but should not go beyond the upper trendline. The idea is not to buy this pair, rather, I want to see a rebound from the upper trendline to pick a possible low risk sell position expecting price to continue to the lowerside and should break below 102.670. A break below this level will mean we are continuing to the lowerside towards 102.115.

Trade Recommendations:

Sell a rebound from the upper trendline towards 102.670.

Bob Stan
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