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Wait and sell a bounce from 104.699.

Wait and sell a bounce from 104.699. | 10 December 2020

10 December 2020, USD/JPY

Wait and sell a bounce from 104.699.

Wave Analysis

Yesterday, the US dollar continued to the upper side and is still pretty much bullish both on the daily and on the weekly charts. As it is now, we are expecting further momentum to the upper side but should not go beyond 104.699. If you are on this chart now, wait for a break above 104.699 to pick a low risk buy position expecting price to continue to the upper side with the next ideal target at 105.605. The price bounces off from the level 104.699, then this will be a good place to consider a sell position towards 103.712.

Trade Recommendations:

Wait and sell a bounce from 104.699.

Bob Stan
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