15 April 2021, USD/JPY
Wave Analysis
From the daily chart attached, the US Dollar will likely sustain the breakout above the upper trendline. While the price remains above this trendline, we expect nothing but a possible momentum to the upperside. The anticipated bullish price rally is the continuation of an impulsive wave cycle and could see price breakout above 112.130 towards 114.101 and could breakout much higher. On the flip side, should the price again descend and close below the same trendline, then we will be looking for long term sell positions
Trade Recommendations:
On the sidelines.
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