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Remain short towards 106.00.

Remain short towards 106.00. | 29 May 2020

29 May 2020, USD/JPY

Wave Analysis

The Us Dollar is currently in an active downtrend. While the price is held below the Alligator indicator attached, we expect nothing but a possible momentum to the lower side, the anticipated bearish price rally is the continuation of the impulsive wave (5) to the lower side and should break below 107.100 towards 106.00 or even lower. This view can only be invalidated in case the price pulls back to the upper side, and breaks above the previous day's highest high, if this is the case, then we will expecting further momentum to the upper side is expected.

Trade Recommendations:

Remain short towards 106.00.

Bob Stan
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