Flat for now | 17 November 2022

17 November 2022, USD/JPY

Flat for now

Wave Analysis

The US Dollar is currently rallying within a converging wedge formation. As long as the price does not break out of this shape, we are on the sidelines, we are expecting a possible break below 138.610 to push the price to the lowerside with the next ideal target set around 136.820 and may push the price much lower. On the flipside, only a break above 140.645 will push us back to the upperside towards 144.420.

Trade Recommendations:

Flat for now

Bob Stan
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