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Sell a breakout below 103.700 towards 100.00.

Sell a breakout below 103.700 towards 100.00. | 20 November 2020

20 November 2020, USD/JPY

Sell a breakout below 103.700 towards 100.00.

Wave Analysis

During the previous trading, instead of continuing to the lowerside, the us dollar pulled back upwards created a new high but ended up closing below its opening price. To an extend, this pair is bearish. However, we want to first see a breakout below the lower trendline to pick a possible long term sell position expecting price to rally much lower with an ultimate target set around 103.520 and could breakout much lower towards 100.00 or even lower. If you are on this chart, we look for sell positions.

Trade Recommendations:

Sell a breakout below 103.700 towards 100.00.

Bob Stan
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