30.06.2020
Analysis based on round-number levels, price channels and modified Elliot Waves
Resistance level of 107.88 deters buyers. Stochastic Oscillator indicates an overbought condition. The ascending movement is likely a wave (B H12) of a descending pattern.
USDJPY rate online: monitor the price movement in real time.
Trading recommendations:
Sell when the descending pattern is formed, where wave (aC) breaks through an inclined channel of the ascending pattern.
Stop Loss beyond the resistance level of 107.88.
Target levels: 106.80; 106.00.
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