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Remain on the sidelines.

Remain on the sidelines. | 31 August 2020

31 August 2020, USD/JPY

Wave Analysis

According to the daily chart attached, the US dollar is currently bouncing off from a good support zone 105.41-105.313. As long as the price remains above this zone, we expect further momentum to the upper side towards the upper trendline but should not breakout any higher. If the price breaks below this zone, then we will be expecting a possible momentum to the lower side towards 103.955 and could breakout much lower. As it is now, we are on the sidelines.

Trade Recommendations:

Remain on the sidelines.

Bob Stan
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