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Look for low risk sell position with an ultimate target set around 102.227.

Look for low risk sell position with an ultimate target set around 102.227. | 09 November 2020

09 November 2020, USD/JPY

Look for low risk sell position with an ultimate target set around 102.227.

Wave Analysis

During the previous trading day, the US Dollar rallied to the lowerside and is still below the supportive trendline. As long as the price remains below this trendline, we expect nothing but a possible momentum to the lowerside. The anticipated bearish price rally is the continuation of both the impulsive waves (5) and (v) and may breakout below 102.227. A breakout below this level will mean we are continuing to the lowerside and could see price break below 100.970 or even lower.

Trade Recommendations:

Look for low risk sell position with an ultimate target set around 102.227.

Bob Stan
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