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Remain long towards 110.00.

Remain long towards 110.00. | 28 May 2020

28 May 2020, USD/JPY

Wave Analysis

During the previous trading day, the impulsive wave (5) and (E) continued to the upperside and is still pretty much bullish both on the daily and on the weekly charts. On this chart, I recommend looking for low risk buy positions. A clear break and close above the upper trendline will be a good sign that we are continuing to the upperside with an ultimate target around 110.00 and could breakout much higher. As it is now, We're buyers, but should the price break below the supportive trendline, then we expect a possible momentum to the lowerside.

Trade Recommendations:

Remain long towards 110.00.

Bob Stan
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