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Wait | 17 June 2020

17 June 2020, USD/JPY

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Wave Analysis

The Us dollar continues to rally within a range not breaking above or below the trend lines forming the rising wedge formation. As it is now. we expect a possible rally towards the 38.2% fib level to pick a low risk sell position. But should the price beak above this fib, then we expect further momentum to the upperside towards 50.0% fib level. And on the lower side, only a clear breakout below the swing low 106.55 will mean we are heading to the lowerside with an ultimate target around 105.00.

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Bob Stan
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