You can wait and sell the US Dollar below 110.30 towards 108.00. | 28 December 2018
28 December 2018, USD/JPY
Wave Analysis
The US Dollar went slightly lower than expected and is now below the Envelopes indicator, this is perfectly in line with the overall downtrend seen on the weekly chart, therefore, as long as the price remains below Envelopes Moving Averages, we expect nothing but a possible momentum to the lowerside. The anticipated bearish price rally will be the continuation of the last impulsive wave (5) to the lowerside and should break below 110.30 before a move further to the lowerside is seen with the next ideal target being 108.00.
Trade Recommendations:
You can wait and sell the US Dollar below 110.30 towards 108.00.
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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.
