Elliott waves analysis – Waiting for a resell from 108.270.

USDJPY – Down

Wave Analysis

Perfectly as previously forecasted, the impulsive wave (c) continued massively to the lowerside and is still pretty much bearish both on the daily and on the weekly charts. Following the break below 108.270, we expect nothing but a possible momentum to the lowerside. The anticipated bearish price rally is the continuation of the impulsive wave (c) and remain valid as long as then price is below 108.270, the idea is not to pick a sell position, now rather, wait for a pullback towards 108.270 to pick a sell.

Trade Recommendations:

Waiting for a resell from 108.270.

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