10 August 2020, USD/JPY
Wave Analysis
Last week, nothing much appears to have happened on this pair, the US dollar closed just a few pips away from its opening price, we are expecting a possible break above either the previous week's highest high, or a break below the previous week's lowest low to pick a possible long term sell position. If the price breaks above the upper trend line, then this will be a good place to consider possible long term buy position and could see price break beyond 106.760 or even higher.
Trade Recommendations:
Remain long upon a break above the upper trendline.
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