We're on the sidelines for now. | 18 November 2022
18 November 2022, USD/JPY
Wave Analysis:
The US Dollar is currentlly trading within a converging wedge formation. As long as the price remains within this shape, I am on the sidelines, however, if the price breaks below this shape, then I will be expecting further rally to the lowerside and will see the price continue to the lowerside with the next ideal target set around 135.78 and may likely head much lower. On the flipside, incase the price breaks above the upper trendline, then this will be an ideal place to consider a possible long term buy position towards 144.906 and may likely head much higher.
Trade Recommendations:
We're on the sidelines for now.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
