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Wait | 30 July 2020

30 July 2020, USD/JPY

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Wave Analysis

Earlier this week, the US dollar broke below the previous week's lowest low and is still pretty much bearish both on the weekly and on the 4 hours charts, we expect the current move to the upper side to be a mere correction to the upper side and should break below 104.830. We are basically, expecting a possible break below this week's lowest low to pick a possible sell position. Before then we are expecting a possible correction towards the upper side but must not break above the end of the corrective wave (4).

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Bob Stan
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