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Remain short towards 100.00.

Remain short towards 100.00. | 29 July 2020

29 July 2020, USD/JPY

Remain short towards 100.00.

Wave Analysis

The previous day's candle closed a few pips below it opening price. I still expect more momentum to the lower side. As it is now, I expect a possible breakout below the level 105 towards 100.00 or even lower. the anticipated bearish price rally is the continuation of the larger impulsive wave [c] and may ultimately break below 100.0. This view can only be invalidated in case the price again rises above 50.0% fib level, if this is the case, then we will expect a possible momentum much higher.

Trade Recommendations:

Remain short towards 100.00.

Bob Stan
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