Sell a bounce from 107.202-107.068 to pick a sell towards 106.035. | 11 May 2020
11 May 2020, USD/JPY
Wave Analysis
Earlier today, the us Dollar continued to the upperside but is currently approaching a resistance zone 107.068-107.202. As long as the price is held below this zone, we are waiting for a bounce from this zone to pick a long term sell order with an ultimate target around 106.035. If you are looking at this chart now, expect a possible bounce from 107.068-107.202 to pick a sell, And on the flipside, should the price break and close above 107.202, then this will be a good place to consider a long term buy order.
Trade Recommendations:
Sell a bounce from 107.202-107.068 to pick a sell towards 106.035.
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.
