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Remain short towards 103.490.

Remain short towards 103.490. | 21 August 2020

21 August 2020, USD/JPY

Wave Analysis

After bouncing off from the upper trendline, the US Dollar continued to the lowerside and is still very much bearish both on the daily and on the weekly charts. While the price remains below the upper trendline, we expect nothing but a possible momentum to the lowerside, the anticipated bearish price rally is the continuation of both the impulsive waves (5) and (c) to the lowerside and may break below 104.045 towards 102.950 or even lower. As it is now, we are looking for low risk sell positions.

Trade Recommendations:

Remain short towards 103.490.

Bob Stan
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