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We are long.

We are long. | 06 June 2022

06 June 2022, USD/JPY

We are long.

Wave Analysis:

This pair has been trading in an expanding wedge formation, during the previous forecast, we had anticipated a rebound from the corrective wave cycle four towards the upper side in continuation of the impulsive wave cycle five. As at now the price is still rallying around the lower trendline, I expect a further bullish momentum from 130.62 towards the upper side around 132.85.Alternatively should the price break below the lower trendline, then 130.35 would be an ideal place to pick a sell from with the first take profit at 127.75.

Trade Recommendations:

We are long.

Bob Stan
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