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Remain short towards 105.00.

Remain short towards 105.00. | 18 June 2020

18 June 2020, USD/JPY

Wave Analysis

After breaking below the supportive trendline yesterday, the US Dollar continued to the lowerside and is still pretty much bearish both on the daily and on the weekly charts. As long as the price remains below this indicator, I expect nothing but a possible momentum to the lowerside, the idea is to wait for a pullback to the upperside to pick a low risk sell position. The anticipated bearish price rally is the continuation of the impulsive wave (v) and should break below 106.540 towards 105.00 or even lower.

Trade Recommendations:

Remain short towards 105.00.

Bob Stan
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