Sell USDJPY now towards 106.730. | 29 January 2019
29 January 2019, USD/JPY
Late last week the US Dollar went below the supportive trendline and is still pretty much below this line. This is a possible bears dominance situation and as long as the price remains below this trendline, we expect a possible steep decline towards 108.25. According to the current chart set up and structure, you could pick a sell position now, have your first take profit at 108.480 and the next at 106.730.So far, we expect the break below the wedge to have marked an end to the corrective three wave cycle and we could be headed even lower.
Trade Recommendations:Sell USDJPY now towards 106.730.
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.
