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Waiting for a sell position.

Waiting for a sell position. | 18 March 2021

18 March 2021, USD/JPY

Expect a possible sell position from the upper trendline towards 104.959.

Wave Analysis

We continue to see struggling below the upper trendline. While the price remains below the upper trendline, we are looking for long term sell positions. The idea is to wait for a rebound from the upper trendline to pick a possible long term sell position. On its ways= to the lowerside, the key levels to look for include 108.020 and 106.460. A break below the latter will push the price much lower with the next ideal target set at 104.959. A breakout below this level will mean we are continuing to the lowerside with the next ideal target at 101.740
Trade Recommendations:
Sell a rebound from the upper trendline.
Bob Stan
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