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Wait. | 20 May 2022

20 May 2022, USD/JPY

Wave Analysis:

The US Dollar is currently on a downtrend,the price has been rallying within the upper and the lower trendline for quite sometime now.Previously the price bounced off from the upper side at the corrective wave cycle four and rallied towards the lower trendline at the at the impulsive wave cycle five.Right now the price is slightly above the upper trendline,I expect a break below the lower trendline and a further bearish momentum ,making 126.95 a good place to pick a sell from.However, should the price rebound to the upper side, I expect it to go upto 128.75 then bounce back to the lower trendline.

Trade Recommendations:

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Bob Stan
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