Look for sell orders towards 104.810. | 27 Agustus 2019
27 Agustus 2019, USD/JPY
Wave Analysis
Despite the bearish gap seen during the previous trading day, the US Dollar rose significantly but failed to break above 106.940. This is a good 4 hour resistance level and as long as the price is contained below it, we're waiting for long term sell orders. The anticipated bearish price rally is the continuation of the impulsive wave (v) and should break below the recent lowest low towards 100.00 or even lower. As it is on the 4 hours chart, we only recommend looking for short positions.
Trade Recommendations:
Look for sell orders towards 104.810.
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.
