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Resell USDJPY from 107.740.

Resell USDJPY from 107.740. | 02 October 2019

02 October 2019, USD/JPY

Wave Analysis

During the previous trading day, the US Dollar formed a possible double top around 108.390. We expect the bounce from this level to have marked an end to the previous up trend that the current bearish price rally is the continuation of a corrective three wave cycle and should head straight towards 106.985. As it is now on the hourly chart, I recommend waiting for a possible correction towards 107.740 to pick a long term sell order with an ultimate target around 106.985 and could breakout lower.

Trade Recommendations:

Resell USDJPY from 107.740.

TRADE METALS WITHOUT SWAPS!

Bob Stan
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