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Sell a bounce from the upper trendline.

Sell a bounce from the upper trendline. | 11 June 2019

11 June 2019, USD/JPY

Sell a bounce from the upper trendline.

Wave Analysis

The previous day;s candle was a perfect bearish pin bar. As long as the price remains below the upper resistance trendline, we expect nothing but a possible momentum to the lowerside. This pair is pretty much bearish and chances of continuing to the lowerside are very high. Thus, we recommend selling a bounce from the upper trendline, or abreak below 107.898, either way the best place to take profits is around 106.747. As it is, but orders looks more risky and cannot be recommended.

Trade Recommendations:

Sell a bounce from the upper trendline.

Bob Stan
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