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We're waiting for a buy

We're waiting for a buy | 23 May 2019

23 May 2019, USD/JPY

We're waiting for a buy

Wave Analysis

The Us dollar pulled back to the supportive trendline and is still above the supportive trendline. As long as the price is protected by this supportive trendline, we expect nothing but a possible momentum to the upperside. But should price breakout to the lowerside, then further momentum even lower is expected. Basically, a clear descent below 110.085 will mean we're looking for a long term sell order towards 109.745, a break will push price even lower towards 109.065. On the flip side, only a break above 110.680 will push price higher.

Trade Recommendations:

Wait for a buy from around 110.085

Bob Stan
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