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Sell a rebound from 61.8% fib level.

Sell a rebound from 61.8% fib level. | 08 September 2020

08 September 2020, USD/JPY

Wave Analysis

Yesterday, nothing much happened on this pair, we expected a possible momentum to the upperside. Unfortunately, we are yet to see any significant moves to the upperside. As it is now, we are waiting for a bounce from the upper trendline to pick a long term sell position. And in case the price breaks and closes above the upper trendline, then e will be expecting further momentum to the upperside towards 108.100 or even higher. On the lowerside, we recommend looking for more sell positions towards 23.6% fib level.
Trade Recommendations:
Sell a rebound from 61.8% fib level.
Bob Stan
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