Elliott waves analysis – Resell the US Dollar from 105.800

USDJPY – Down

Resell the US Dollar from 105.800

Wave Analysis

After breaking below the shape formation shown above, the US Dollar continues massively to the lowerside and is still very mush bearish. As long as the price remains below the level 105.800, we expect nothing but a possible momentum to the lowerside, the anticipated bearish price rally is the continuation of the impulsive wave (v) and should break below 105.180 towards 100.00 or even lower. The idea is to have a pending sell limit order around 105.800 with stop loss above 106.435 .

Trade Recommendations:

Resell the US Dollar from 105.800

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