30 September 2020, USD/JPY
Wave Analysis
During the previous trading day, the impulsive wave (D) Continued to the upperside but is still below the upper trendline, we are waiting for a clear bounce from the upper trendline to pick a long term sell position with an ultimate target set around the lower trendline. If you are looking at this chart now, wait and sell a bounce from the upper trendline expecting price to move to the lowerside with an ultimate target around the lower trendline. The anticipated bearish price rally is the continuation of the last impulsive wave (E).
Trade Recommendations:
Sell a rebound from around 106.100 with your target at 103.630.