30 мая 2022, USD/JPY
Wave Analysis:
The US Dollar is currently trading in a contracting wedge formation, previously the price rallied towards the upper side at the corrective wave cycle four from the impulsive wave cycle three. Currently, the price is on the upper trendline, I expect a bearish momentum towards 125.25 or even much lower in continuation of the impulsive wave cycle five. Alternatively, if the price breaks above the upper trendline, then 127.50 would be a good place to pick a buy from with the first ideal target at 129.30.If you are looking at this pair now, pick a sell from 126.99 towards 125.25.
Trade Recommendations:
We are sellers.
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