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Look for sell positions towards the lower trendline.

Look for sell positions towards the lower trendline. | 04 November 2020

04 November 2020, USD/JPY

Look for sell positions towards the lower trendline.

Wave Analysis

Perfectly as previously anticipated, the Us Dollar bounced off from the supportive trendline, headed straight to the upperside but could not break beyond the upper trendline. If the price breaks and closes above the upper trendline, then we will be looking for more long term buy positions expecting price to continue much higher. A break above the upper trendline will push the price much higher with an ultimate target set around 105.533. If the price bounces off from the upper trendline, then we will be looking for sell positions towards the lower trendline.

Trade Recommendations:

Look for sell positions towards the lower trendline.

Bob Stan
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