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Wait | 11 November 2020

11 November 2020, USD/JPY

Watch for a possible rejection from the upper trendline.

Wave Analysis

Nothing much happened on this pair during the previous trading day, As long as the price remains below the zone 105.477-105.335, we are on the sidelines expecting price to rally to the lowerside towards the lower trendline. But in case the price breaks and closes above 105.477 then the best place to consider a possible sell position is along the lower trendline. And in case the price breaks and closes above the upper trendline then we will be expecting further momentum towards 107.500.

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Bob Stan
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