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Buy a break above the upper trendline with your target around 107.895.

Buy a break above the upper trendline with your target around 107.895. | 02 June 2020

02 June 2020, USD/JPY

Buy a break above the upper trendline with your target around 107.895.

Wave Analysis

Nothing much happened on this pair during the previous trading day, the US Dollar is currently within a converging wedge formation, while the price is held within this shape formation, we're expecting a breakout above the upper trend line to confirm that we are upwards with n ultimate target around 107.895. Should the price break and close below the supportive trend line, then this could be a possible sign that we are continuing to the lower side with our target around 107.115, If the price breaks and closes below 107.115, then further moves much lower is expected.

Trade Recommendation:

Buy a break above the upper trend line with your target around 107.895.

Bob Stan
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