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We're sellers towards 61.8% fib level.

We're sellers towards 61.8% fib level. | 28 October 2021

28 October 2021, USD/JPY

We're sellers towards 61.8% fib level.

Wave Analysis

After bouncing off of the upper trendline, the US Dollar rallied to the lowerside and is still pretty much bearish both on the daily and on the weekly charts. The anticipated bearish price rally is the continuation of the last impulsive wave (c) to the lowerside and should break below 113.40 with the next ideal target set and 50.0% fib level. Should the price break below this fib level, then we are straight to the sellers side with an ideal target set 112.65.

Trade Recommendations:

We're sellers towards 61.8% fib level.

Bob Stan
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