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Remain short towards 104.693.

Remain short towards 104.693. | 13 July 2020

13 July 2020, USD/JPY

Remain short towards 104.693.

Wave Analysis

During the previous week, the US Dollar moved to the lower side and is still pretty much bearish both on the daily and on the weekly charts, While the price remains below the upper trend line,we expect nothing but a possible momentum to the lower side, the idea is to look for long term sell positions. And on the flip side, should the price break and close above the upper trend line then further momentum to the upper side is expected with an ultimate target around 117.889. But in case the price break and close below 104.693, then a move towards 100.658 is expected.

Trade Recommendations:

Remain short towards 104.693.

Bob Stan
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