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We're looking forward to a possible sell position from the upper trendline.

We're looking forward to a possible sell position from the upper trendline. | 12 March 2021

12 March 2021, USD/JPY

We're looking forward to a possible sell position from the upper trendline.

Wave Analysis

So far, we've not seen any serious adjustment to the upper side on this symbol. As we said during the previous trading day, we are waiting for a clear rebound from the upper trendline to pick a possible long-term sell position. Our idea is to wait for a clear sell signal which should see a price break below 104.959 or even lower. If the price breaks below this level, then further momentum much lower is expected. On the other hand, should the price break above the upper trendline, then we will expect further momentum to the upperside.

Trade Recommendations:

We're looking forward to a possible sell position from the upper trendline.

Bob Stan
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