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As long as the price is below 110.81, look for short position.

As long as the price is below 110.81, look for short position. | 16 August 2018

16 August 2018, USD/JPY

As long as the price is below 110.81, look for short position.
Wave Analysis

After an attempt break above 110.81, the Us Dollar pulled back and is now below the same level. As long as the price remains below this level, we expect nothing but a possible momentum to the lowerside. The anticipated bearish price rally is the continuation of the impulsive wave (c) and should break below 109.85 but should not go beyond 108.65. This view will only be rendered futile in case the price breaks above 111.05, if this is the case, then we'll expect a possible momentum to the upperside with an ultimate target at 114.

Trade Recommendation:

as long as the price is below 110.81, look for short position.

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