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Wait and buy a bounce from 104.617-104.182.

Wait and buy a bounce from 104.617-104.182. | 21 September 2020

21 September 2020, USD/JPY

Wait and buy a bounce from 104.617-104.182.

Wave Analysis

Currently, the US Dollar is bouncing off of a significant weekly support level 104.617-104.182. As long as the price remains above this zone, we expect nothing but a possible rally to the upperside. If the price breaks and closes below this zone, then we will be expecting a possible momentum to the lowerside, the anticipated bearish price rally is the continuation of both the impulsive waves (5) and (c) to the lowerside and should breakout below 100.840 towards 90.660 or even lower.

Trade Recommendations:

Wait and buy a bounce from 104.617-104.182.

Bob Stan
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