Sell USDJPY now, your stoploss above 106.180 and take profit at 104.030. | 14 Oktober 2020
14 Oktober 2020, USD/JPY
Wave Analysis
After a false breakout above the upper trendline, the Us dollar moved significantly to the lowerside but has now moved back to the same trendline. While the price remains below this trendline, we expect nothing but a possible momentum the lowerside. The anticipated bearish price rally is the continuation of the impulsive wave (E) to the lowerside and should breakout below the supportive trendline or even lower. This view will only be rendered futile in case the price breaks and closes above the upper trendline.
Trade Recommendations:
Sell USDJPY now, your stop loss above 106.180 and take profit at 104.030.
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.
