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Look for long term sell positions towards 104.160.

Look for long term sell positions towards 104.160. | 19 October 2020

19 October 2020, USD/JPY

Wave Analysis

The US Dollar continues to consolidate below the zone 105.415-105.582. As long as the price remain below this zone, we expect nothing but a possible momentum to the lower side, The anticipated bearish price rally is the continuation of the impulsive wave (E) to the lower side and should break below the supportive trendline towards 103.910. And on the flip side, should the price breakout above the zone 105.582-105.415, then this will be a good place to consider a possible long term buy position.

Trade Recommendations:

Look for long term sell positions towards 104.160.

Bob Stan
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