Sell a bounce from 105.830 with your target at 104.200. | 06 October 2020
06 October 2020, USD/JPY
Wave Analysis
USDJPY is currently rallying around 105.627. While the price remains below the swing high 105.830, I expect a possible long term sell position. With this position, my target will be set around 105.180, 104.525 and 104.525. And in case the price breaks above 105.830, then we will fix our stops around 105.90 and 106.155. A close above 105.90 will be a good sign that we are continuing to the upperside with an ultimate target set around 108.115 and may breakout much higher towards 110.075.
Trade Recommendations:
Sell a bounce from 105.830 with your target at 104.200.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
