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Watch for a possible sell around 135.766.

Watch for a possible sell around 135.766. | 08 August 2022

08 August 2022, USD/JPY

Watch for a possible sell around 135.766.

Wave Analysis:

Currently, the US Dollar is rallying to the upperside. If you are looking at this chart right now, look for a short term sell position towards the level 135.766. A rebound from this level, from the lowerside, will mark an end to the corrective wave (b) and the begining of the last impulsive wave (c) to the lowerside and may see the price continue to the lowerside with an ultimate target set 126.620 and may continue much lower. The idea on this chart is to keep looking for low risk sell positions. In case, the price breaks above 135.766, then this will be a good place to consider a possible long term buy position towards 138.720 and may likely continue
much higher.
Trade Recommendations:
Watch for a possible sell around 135.766.
Bob Stan
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