USDJPY – Down
Wave Analysis
Yesterday, the US Dollar rallied to the lowerside and even went below the three moving averages but is still within the expanding wedge formation. As it is right now, I expect nothing but a possible momentum to the lowerside towards the lower trendline. If the price bounces off from the same trendline, then this should give us a good place to consider a possible buy position towards the upper trendline.
Trade Recommendations:
We’re sellers towards the lower trendline.
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