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Look for low risk sell positions towards 102.770.

Look for low risk sell positions towards 102.770. | 28 December 2020

28 December 2020, USD/JPY

Look for low risk sell positions towards 102.770.

Wave Analysis

The Us dollar is currently within a descending wedge formation. As long as the price remains below the upper trendline and below the inner upper trendline, we expect nothing but a possible momentum to the lowerside. The anticipated bearish price rally is the continuation of the impulsive wave (v) to the lowerside and should break below 102.770 towards 100.00 or even lower. And in case the price breaks and closes above the inner trendline, then a breakout above the upper trendline will push the price much higher towards 105.455.

Trade Recommendations:

Look for low risk sell positions towards 102.770.

Bob Stan
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