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Look for sell positions towards 102.253.

Look for sell positions towards 102.253. | 04 August 2020

04 August 2020, USD/JPY

Look for sell positions towards 102.253.

Wave Analysis

After a tremendously pull back to the upper side, the US Dollar is not able to close above 106.104, while the price remains below this level, we expect nothing but a possible momentum to the lower side, the anticipated bearish price rally is the continuation of both the impulsive waves (5) and [c] and should break below 102.253 towards 100.180 or even lower. If the price breaks and closes above 106.104, then this could be a sign that we are continuing to the upper side towards the upper trend line.

Trade Recommendations:

Look for sell positions towards 102.253.

Bob Stan
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