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Look for sell positions.

Look for sell positions. | 02 September 2020

02 September 2020, USD/JPY

Look for sell positions.

Wave Analysis

The previous week's candle closed as a perfect bearish pin bar candle. As it is now, The US dollar has pulled back slightly above 61.8% fib level. As it is now, we re are looking for long term sell positions expecting price to break below the previous week's lowest low towards 161.8% fib level. This view will only be rendered futile in case the price breaks above the previous week's highest high. If this should be the case, then we will expect an impulsive wave count towards the upper trendline or even higher.

Trade Recommendations:

Look for sell positions.

Bob Stan
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