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Wait | 20 May 2019

20 May 2019, USD/JPY

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Wave Analysis

The US Dollar is currently trading within a tight range to going above the upper trendline or below the lower supportive trendline, according to the monthly chart above, we're waiting for a clear breakout above the lower trendline to confirm that we're upwards with an ultimate target at 124.545. The anticipated bullish price rally is the continuation of the impulsive wave (c) to the uppersde and should break above 118.680 towards 121.00 and should breakout higher towards 124.00. As it is, intraday traders should expect a decline but only up to the end of this month.

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Bob Stan
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