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Look for low risk sell positions towards 103.200.

Look for low risk sell positions towards 103.200. | 18 Desember 2020

18 Desember 2020, USD/JPY

Remain short towards 100.00.

Wave Analysis

Yesterday, the US dollar closed below 103.691 and is still pretty much below this line. As long as the price is held below this level, we expect the current move to the upperside to be a corrective wave count but should not go beyond 103.691. If the price breaks and closes above this level, then further momentum to the upperside is expected towards 104.502. A breakout above this level will mean we are continuing to the upperside with the next ideal target set around 105.480.

Trade Recommendations:

Look for low risk sell positions towards 103.200.

Bob Stan
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