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Sell a break below the lower trendline.

Sell a break below the lower trendline. | 24 December 2020

24 December 2020, USD/JPY

Sell a rebound from the upper trendline or a break below the lower trendline towards 102.855.

Wave Analysis

Nothing much happened on this pair, the US dollar is still within the two wide wedge lines. As it is now, we are eyeing a possible rally towards the upper trendline and should not breakout above it. If the price breaks below the inner lower trendline, then this will be a good place to consider a possible long term sell position towards the lower trendline and should breakout much lower. If the price breaks below this trendline then this will be a good place to consider a possible long term sell position towards 102.415.

Trade Recommendations:

Sell a break below the lower trendline.

Bob Stan
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