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Look for sell positions towards 104.090.

Look for sell positions towards 104.090. | 12 October 2020

12 October 2020, USD/JPY

Look for sell positions towards 104.090.

Wave Analysis

Last week, the US Dollar attempted to breakout above the upper trendline but again ended up below it. As long as the price remains below it, we expect nothing but a possible momentum to the lowerside, the anticipated bearish price rally is the continuation of the impulsive wave (E) to the lowerside and should breakout beyond 104.090 towards 100.00 or even lower. And on the flipside, should the price break and close above the upper trendline, then we expect further momentum upwards.

Trade Recommendations:

Look for sell positions towards 104.090.

Bob Stan
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