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Remain short with your take profit at 108.495.

Remain short with your take profit at 108.495. | 28 January 2020

28 January 2020, USD/JPY

Wave Analysis

During the previous trading day, the impulsive wave (5) continued to the lower side and is still pretty much bearish both on the daily and on the weekly charts. As long as the price remains below the trend indicator attached, we are looking for long term sell orders towards 108.495. This view can only be invalidated in case the price breaks above the upper trend line, if this is the case, then a possible momentum towards 109.813 is expected. A break above this level will push the price much higher.

Trade Recommendations:

Remain short with your take profit at 108.495.

Bob Stan
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