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wait | 23 March 2021

23 March 2021, USD/JPY

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Wave Analysis

The US Dollar is currently rallying within a range not going above the upper trendline or below the lower trendline. As it is on this chart a rebound from this trendline will give us a good place to consider a sell position from, while a rebound from the upper trendline will give us a good place to consider a possible buy position. In case the price breaks and closes below the lower trendline, then further momentum to the lowerside will be ideal with our target set around 107.95. A break below this level will push the price much lower towards 105.45.

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Bob Stan
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