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Wait | 20 July 2020

20 July 2020, USD/JPY

Wave Analysis

The US Dollar is currently rallying within an expanding wedge formation. As long as the price remains within this shape formation, we are waiting for either a bounce from the upper trendline to pick a sell or a bounce from the lower trendline to pick a buy position. And should the price breakout and close above the upper trendline, then we will be expecting further momentum to the upperside towards 107.990. And on the other side, should the price break and close below the lower trendline then further momentum to the lowerside is expected.

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Bob Stan
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