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Wait for a rebound from 107.359 to pick a sell position.

Wait for a rebound from 107.359 to pick a sell position. | 23 July 2020

23 July 2020, USD/JPY

Wait for a rebound from 107.359 to pick a sell position.

Wave Analysis

Yesterday, the US Dollar continued to the upper side but could not go beyond 107.359, if the price breaks and closes above 107.359, then we'll be expecting further momentum to the upper side towards 108.160. If you are looking at this chart now, wait for a break above 107.359 to pick a buy position, or a bounce from 107.359 to pick a sell position. And should the price break and close below 106.760, then this could be a good place to consider a possible long term sell position.

Trade Recommendations:

Wait for a rebound from 107.359 to pick a sell position.

Bob Stan
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