Wait | 17 August 2020

17 August 2020, USD/JPY

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Wave Analysis

Last week, we expected a possible momentum towards the upper trendline. While the price is not able to clear break above 106.76, we are on the sidelines, but should the price breakout and close above 16.760, then we will be looking for long term buy position towards the upper trendline, the anticipated bullish price rally is the continuation of the impulsive wave (iv) but should not break above the upper trendline, A bounce from the upper trendline will be a good place to sell the last impulsive wave (v) towards 102.261.

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Bob Stan
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