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On the sidelines.

On the sidelines. | 24 May 2019

24 May 2019, USD/JPY

On the sidelines.

Wave Analysis

Earlier today the US Dollar established a good support around 109.494-109.476. As long as this pair remains above this zone, we're looking for buy orders, but should price breakout to the lowerside, we'll be expecting an impulsive wave count to the lowerside and should breakout even lower towards 105.00 or even lower. As it is, on the 30 minutes chart, we're waiting for a clear bounce from this zone to pick a buy or a clear breakout below to pick a low risk sell order with an ultimate target at 108.00.

Trade Recommendations:

On the sidelines.

Bob Stan
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