On the sidelines. | 03 September 2019

03 September 2019, USD/JPY

On the sidelines.

Wave Analysis

The previous months candle rallied steeply to the lowerside but ended up closing above the level 106.171. However, earlier this month, the pair gaped below this monthly level, this is a possible sign that bearish could dominate this market, however, as long as the price remains above 106.171, we choose to focus only on buy orders. But should price descend below 106.171, then this will be a good place to look for long term sell orders towards 99.960. A bounce from 106.171 will push the price upwards towards the upper trendline.

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Bob Stan
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