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Remain short towards 106.305.

Remain short towards 106.305. | 05 May 2020

05 May 2020, USD/JPY

Remain short towards 106.305.

Wave Analysis

Earlier today, the US Dollar rallied to the lower side and even went below the supportive trend line, while the price is held below this trend line, we expect a possible bearish surge towards 106.305. A break below 106.305 will mean we are continuing to the lower side with an ultimate target around 105.00 and could breakout much lower side, On the flip side, only a clear breakout above the previous day's highest high will mean we are continuing to the upper side with an ultimate target around 107.475.

Trade Recommendations:

Remain short towards 106.305.

Bob Stan
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