We are buyers towards 130.05. | 17 May 2022
17 May 2022, USD/JPY
Wave Analysis:
The US Dollar is currently on an uptrend the price has been trading within the upper and the lower trendline for sometime.During the previous trading days,the price rallied along the upper trendline but it eventually bounced off towards the lower side,at the corrective wave cycle four.Right now the price is rebounding towards the upper side,I expect it to continue upto 130.05 or much higher, in continuation of the impulsive wave cycle five.If you are looking at this pair now,pick a buy from 129.40 towards 130.05.
Trade Recommendations:
We are buyers towards 130.05.
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.
