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Expect a possible momentum to the lowerside.

Expect a possible momentum to the lowerside. | 24 Agustus 2020

24 Agustus 2020, USD/JPY

Expect a possible momentum to the lowerside.

Wave Analysis

The Us dollar continued to remain within the contracting wedge formation. Following the bounce from the inner resistance 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 lower side and should break below the supportive trendline. And in case the price bounces off from the supportive trendline, then this will be a good a place to consider a possible buy position towards the upper trendline.

Trade Recommendations:

Expect a possible momentum to the lowerside.

Bob Stan
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