The 5%ers' Blog

The Price Action Analysis for USD/JPY – 20/05/2019

May 20, 2019 | 3:08 pm | The 5%ers' Blog
May 20, 2019 | 3:08 pm
The 5%ers' Blog

Monday 20/05/2019

Waiting for a Signal to Buy USD/JPY

As we can see, the USD/JPY has just started to develop a bullish momentum by breakout the last high of the recent bearish momentum.

As the price is bullish for now, it will be wiser to look for a reason to buy.

The demand below seems like a great level for buy position as on the first touch of the price at that level it’s the right time to buy.

The first target will be the supply above and the final target will be the supply at the top, which is also a great level of sell position.

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