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Expect a possible momentum towards 105.353-104.993.

Expect a possible momentum towards 105.353-104.993. | 08 May 2020

08 May 2020, USD/JPY

Expect a possible momentum towards 105.353-104.993.

Wave Analysis

Yesterday, the Us dollar closed as a possible bearish pin bar, while the price is below 107.130, we expect nothing but a possible momentum to the lower side, the anticipated bearish price rally is the continuation of the impulsive wave (c) to the lower side and should break below 105.353 towards 102.265. A bounce from 105.353-104.993 will mean we are looking for a low risk buy order towards 107.130, a break above this level could push the price much higher towards 109.465 or even higher.

Trade Recommendations:

Expect a possible momentum towards 105.353-104.993.

Bob Stan
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