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Remain short | 18 September 2020

18 September 2020, USD/JPY

Wave Analysis

USDJPY is currently in an active down trend. As long as the price is held below the three moving averages attached, we expect nothing but a possible momentum to the lowerside. The anticipated bearish price rally is the continuation of the impulsive wave (v) to the lowerside and should breakout below 104.490 towards 100.00 or even lower. As it is now, buy positions looks a bit risky and may not be recommended. But should the price break beyond the upper moving average, then a move much higher is expected.

Trade Recommendations:

Expect further momentum to the lowerside.

Bob Stan
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