We're sellers towards 107. | 04 Agosto 2021
04 Agosto 2021, USD/JPY
Wave Analysis
During the previous trading day, the Us Dollar continued to the lowerside and is still pretty much bearish both on the daily and on the weekly charts. As long as the price remains below the previous day's highest high, we expect nothing but a possible momentum to the lowerside. This is the continuation of an impulsive wave count and could see the price break below 108 towards 107 or even lower. The idea on this chart is to wait for a pullback to the upperside to pick a low risk sell position towards 107 and may extend much lower with the next target being at 106 or even lower.
Trade Recommendations:
We're sellers towards 107.
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.
