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We're short from 107.390 towards 104.770.

We're short from 107.390 towards 104.770. | 15 May 2020

15 May 2020, USD/JPY

We're short from 107.390 towards 104.770.

Wave Analysis

Few day's ago the us Dollar bounced off from the upper trendline, headed to the lowerside and is still pretty much bearish on the daily chart, we are waiting for a clear bounce from the upper trendline to sell the last impulsive wave (E) to the lowerside and should break below 105.610 towards 104.770. This view can only be invalidated in case the price breaks and closes above the upper trendline if this is the case, then further momentum to the upperside with an ultimate target around 108.980, a break above this level will push the price much higher.

Trade Recommendations:

We're short from 107.390 towards 104.770.

Bob Stan
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