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Remain short towads the lower trendline.

Remain short towads the lower trendline. | 25 May 2020

25 May 2020, USD/JPY

Remain short towads the lower trendline.

Wave Analysis

After reaching the highs of 107.990, the US Dollar pulled back to the lower side and is now within a contracting wedge formation, while the price is contained within this shape formation, we're only trading reversals, that is, we will be selling a bounce from the upper trendline and buy a bounce from the lower trend line. A break above the upper trend line will mean we are continuing to the upper side with an ultimate target around 107.990. And on the flip side, should the price break and close below the supportive trend line, then we expect further momentum towards 106.995.

Trade Recommendations:

Remain short towards the lower trend line.

Bob Stan
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