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Look for low risk sell positions with your target at 103.530.

Look for low risk sell positions with your target at 103.530. | 27 October 2020

27 October 2020, USD/JPY

Wait for low risk sell positions with an ideal target at 103.880.

Wave Analysis

Yesterday, nothing much happened on this pair. The Us dollar continues to consolidate below 105.290. While we continue to see sustainable below this level, we expect nothing but a possible momentum to the lowerside. The expected bearish price rally is the continuation of the impulsive wave (E) to the lowerside and should breakout below 103.880 towards 103.00 or even lower. As it is now, only a break and a close beyond the upper trendline may mean buyers are in control.

Trade Recommendations:

Look for low risk sell positions with your target at 103.530.

Bob Stan
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