Remain short towards 105.820. | 13 May 2020
13 May 2020, USD/JPY
Wave Analysis
The impulsive wave (iv) bounced off from the upper trend line and is currently heading to the lower side, we expect this bounce to be the end of the corrective wave (iv) that the current bearish price rally is the continuation of the impulsive wave (v) and should break below 105.820 towards 100.00 or even lower. This view can only be invalidated in case the price breaks and closes above the upper trend line, if this is the case, then further momentum much higher is expected with an ultimate target around 109.220.
Trade Recommendations:
Remain short towards 105.820.
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.
