we're looking for a short position upon a rebound from the upper trendline. | 21 September 2018

21 September 2018, USD/JPY

we're looking for a short position upon a rebound from the upper trendline.

Wave Analysis

During the previous trading day, the impulsive wave (E) traded intensely to the upperside and is now bouncing from the upper trendline. We're waiting for a clear sign that the impulsive wave (E) is ended so that we sell a correction towards the lower trendline. Ideally, as long as the price remains above 112.080, we expect nothing but a possible momentum to the upperside. Should the price breaks below 112.080, then we'll expect further momentum to the lowerside with an ultimate target at 111.575.

Trade Recommendations:

we're looking for a short position upon a rebound from the upper trendline.

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