As long as the price remains below the upper trendline, we expect nothing but a possible momentum to the lowerside.
As long as the price remains below the upper trendline, we expect nothing but a possible momentum to the lowerside. | 10 September 2018
10 September 2018, USD/JPY
Wave Analysis:
The US Dollar is still within the expanding wedge formation. We went short previously while the price was along the upper resistive trendline, as long as the price is below the upper trendline, we expect nothing but a possible momentum to the lowerside. If you’re not already in a short position now, you can still look for short positions now but have your take profit along the lower trendline. This view can only be invalidated in case the price breaks above the upper trendline, if this is the case, then further movements upwards is expected.
Trade Recommendations:
As long as the price remains below the upper trendline, we expect nothing but a possible momentum to the lowerside.
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