USDJPY – Down
Wave Analysis:
The US Dollar has been on a downtrend for a while now, the price has been trading within the upper and the lower trendline. Recently the price bounced off from the corrective wave cycle four at the upper trendline towards the lower side in continuation of the impulsive wave cycle five. As at now, the price is on the lower side, I expect a break below the lower trendline and a further bearish momentum. If you are looking at this pair now, wait for a clear break below then pick a sell.
Trade Recommendations:
Wait.
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