On the sidelines. | 17 May 2019
17 May 2019, USD/JPY
Wave Analysis
The Us dollar is currently in a correction mode. Just recently after establishing a support around 109.135, the US Dollar has been in a correction mode. We expect the current corrective three wave cycle to continue pushing price to the upperside and should breakout above 110.225 towards 111.770. And on the flip, should the price break below 109.135, then this will be an ideal place to look for low risk sell orders with an ultimate target at 100.00. As it is, we recommend remaining on the side lines.
Trade Recommendations:
On the sidelines.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
