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Wait for a low risk sell order from around 109.510.

Wait for a low risk sell order from around 109.510. | 24 January 2020

24 January 2020, USD/JPY

Remain short with your take profit at 108.700.

Wave Analysis

During the previous trading day, the US Dollar continued to the lower side and is still pretty much bearish both on the daily and on the weekly charts. As long as the price remains below the level 109.013, we expect nothing but a possible momentum to the lower side, the anticipated bearish price rally is the continuation of the impulsive five wave cycle and could see the price break below 107.090, if you didn't sell the impulsive wave three towards 109.375, you could wait for the corrective wave (4) to pick a sell order.

Trade Recommendations:

Wait for a low risk sell order from around 109.510.

Bob Stan
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